TechFlow News, April 13: According to a CoinDesk report, during the Digital Assets Summit hosted by Vanderbilt University, CFTC Chairman Mike Selig stated that the Commodity Futures Trading Commission (CFTC) will continue to defend its “exclusive regulatory authority” over prediction markets and clarify the federal regulatory status of commodity derivatives markets through litigation. Selig emphasized that prediction markets—whether involving sports, politics, or other domains—fall under CFTC jurisdiction as long as the products are lawfully offered on CFTC-regulated exchanges; state governments cannot supplant federal regulation with gambling laws. Recently, the CFTC has filed lawsuits against Arizona, Illinois, and Connecticut to underscore this regulatory authority. Selig also noted that the CFTC is engaged in rulemaking under the Dodd-Frank Act to define its regulatory framework for prediction markets and is collaborating with the U.S. Securities and Exchange Commission (SEC) to establish a digital asset classification system aimed at preventing regulatory overlap.
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