CFTC Chairman Mike Selig is pushing the legal battle to new heights, insisting that the agency has "exclusive" regulatory authority over prediction markets. In his latest speech on the "State of Crypto," he emphasized that states lack the capacity and legal framework to regulate prediction platforms, which are rapidly evolving and becoming increasingly complex. Selig believes that regulatory fragmentation will only lead to market chaos and pose greater risks to investors. Not only staying at the opinion level, the CFTC is actively initiating multiple key lawsuits aimed at consolidating its position and establishing legal precedents, thereby "setting the rules of the game" for the entire industry.

👉 Clarification:
This fight is not only about regulatory authority but also about the future of prediction markets—where the boundaries between finance, technology, and law are becoming increasingly blurred. If the CFTC wins, the balance of power could shift entirely to the federal level, ushering in a new phase of unified but equally stringent rules.