CFTC’s Selig: States Shouldn’t Jail Prediction Market Founders Over Event Contracts

Selig's framing sharpens the federal-state turf war by personalizing it: the dispute is no longer just about product classification but about whether state regulators can use criminal exposure as leverage over a federally overseen market. That raises the stakes for prediction-market operators, who face a patchwork of state gambling regimes, and for the CFTC, which is asserting primacy over event contracts. The open question is whether Selig's stance translates into concrete federal action or remains rhetorical pressure while state cases proceed.