CFTC Chair Mike Selig Reaffirms Exclusive Jurisdiction Over Prediction Markets

Selig's framing shifts the debate from whether prediction markets are gambling to who gets to police them, and he is claiming that ground for Washington rather than state regulators. The interstate-matching argument is the substantive hook: if every trade crosses state lines by design, state-by-state oversight becomes unworkable in practice, not just legally awkward. That matters for platforms weighing US expansion and for state regulators who have treated the sector as their own. Whether Congress or the courts ratify this exclusive-jurisdiction reading is the open question.