CFTC Chair Doubles Down on Defending Prediction Markets

Michael Selig, who chairs the US Commodity Futures Trading Commission under President Donald Trump, said the agency would be responding to what he called an “onslaught of state-led litigation” against prediction market platforms.

In a video posted to X on Tuesday, Selig said that the CFTC had filed an amicus brief, also known as a “friend of the court” brief, to “defend its exclusive jurisdiction” in regulating prediction markets, which he equated to derivatives markets. The chair warned that…