Overview
- Chair Michael Selig said the CFTC filed a friend‑of‑the‑court brief asserting exclusive federal jurisdiction over prediction markets in active litigation tied to state crackdowns.
- The filing follows state actions including a Nevada case where a federal judge issued a temporary restraining order blocking Kalshi, with related appeals now before higher courts.
- Platforms are expanding offerings as the fight unfolds, with Kalshi self‑certifying CFTC‑regulated contracts on professional sports draft lottery odds using the agency’s review pathway.
- Federal enforcement signals are growing, as SDNY’s U.S. attorney said he expects fraud prosecutions and Selig noted the CFTC is monitoring insider‑information risks with platforms and sports leagues.
- Political and regulatory pushback intensified, with senators urging the CFTC to stay out of certain cases, Utah’s governor vowing to challenge the agency in court, and analysts noting a ruling for the CFTC could sharply limit states’ control over these markets.