CFTC Chair Selig Reiterates Exclusive Jurisdiction Over Prediction Markets
- —Selig says CFTC has exclusive jurisdiction over prediction markets
- —Argument: fraud and manipulation are not confined by state borders
- —Prediction exchanges described as interstate businesses serving nationwide clients
- —Congress authorized CFTC to enforce uniform standards and protect customer funds
Why it matters: The CFTC's stance strengthens federal oversight of prediction markets amid disputes with states over authority.
Source: PANews