CFTC Chair Mike Selig Vows to Defend Prediction Market Oversight in Court Amid State Challenges

U.S. Commodity Futures Trading Commission Chair Mike Selig stated in a Tuesday video that the agency, not individual states, holds primary authority over event‑contract and prediction‑market platforms such as Polymarket and Kalshi, and pledged to defend that jurisdiction in court. His remarks follow state-level enforcement actions, an adverse federal ruling in Nevada that is under appeal, growing interest from firms including Coinbase and Trump Media & Technology Group, and sharp criticism from Utah Governor Spencer Cox and Senator Elizabeth Warren.