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CFTC Chair: Predicting that state-level lawsuits related to the market may ultimately be appealed to the Supreme Court
Gold Financial reports that on May 7th, Chairman of the U.S. Commodity Futures Trading Commission Michael Selig stated at the Consensus 2026 conference that the CFTC has filed lawsuits against regulatory agencies in approximately five to six states, including Arizona, Connecticut, Illinois, and New York, with the core dispute over the jurisdiction of prediction market regulation.
He said that if different circuit courts issue conflicting rulings, the relevant cases may ultimately be appealed to the U.S. Supreme Court. Michael Selig stated that the Commodity Exchange Act explicitly grants the CFTC exclusive regulatory authority over commodity derivatives, and prediction market event contracts are classified as financial derivatives traded on federally regulated exchanges, fundamentally different from traditional entertainment venues.
He believes that some state-level regulatory agencies are attempting to challenge federal law through local regulations, and the CFTC will continue to file lawsuits against such actions.