Mike Selig

Voters in both parties prefer federal oversight of prediction markets over state oversight, with 48% of Republicans and 45% of Democrats supporting federal regulation. A minority of voters (8%) advocate banning prediction markets, while 67% believe adults should decide their use. Commodity Futures Trading Commission Chair Mike Selig faces opposition from states and tribes seeking to ban or regulate the markets.

Mike Selig, head of the Commodity Futures Trading Commission, asserts federal jurisdiction over prediction markets and invites Supreme Court review to resolve conflicts with state and tribal regulations. He opposes stricter legislative constraints proposed by lawmakers and is suing states like Minnesota that have banned or regulated the markets.

CFTC has rescinded its 'no-deny' policy for settlements, aligning with the SEC's approach. Chairman Mike Selig stated this change provides the agency with greater flexibility in handling enforcement actions.

CFTC Chair Mike Selig has vowed to sue any state that attempts to regulate prediction markets under its own gambling laws. The CFTC is defending prediction markets against state-level gambling regulations.

SEC Chair Paul Atkins and CFTC Chair Mike Selig announced a collaborative regulatory approach to digital assets, emphasizing onshore crypto development, tokenization, and future-proof rules. They highlighted joint efforts like the token taxonomy guidance and proposed an 'innovation exemption' to foster U.S.-based crypto projects while addressing securities vs. commodities boundaries.

CFTC Chair Mike Selig faced bipartisan criticism during a House committee hearing over his support for prediction markets, including sports and war-related betting, and crypto-backed perpetual futures. Lawmakers expressed concerns about potential risks and regulatory challenges associated with these financial instruments.