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🚀 CFTC Chairman Defends Exclusive Authority Over Prediction Markets CFTC Chairman Mike Selig has affirmed the agency's commitment to defending its exclusive authority over prediction markets offered on CFTC-regulated exchanges. According to NS3.AI, Selig emphasized that the agency's legal actions against Arizona, Illinois, and Connecticut are intended to prevent states from applying gambling laws to products that the CFTC considers derivatives. Additionally, Selig noted that the CFTC is currently engaged in a formal rulemaking process concerning prediction markets. #CFTC#PredictionMarkets#Regulation#Derivatives#FinancialMarkets#Rulemaking#GamblingLaw#MikeSelig