⚖️ CFTC chair Selig slams states for trying to 'lock up' prediction market founders
CFTC Chair Michael Selig called state lawsuits against prediction market platforms "really egregious," saying states are bringing criminal charges against founders and CEOs offering lawful products under a federal regime. The CFTC is fighting roughly a dozen states and cities over whether event contracts on platforms like Kalshi and Polymarket are illegal gambling. Selig wants the Supreme Court to settle the question rather than battling state by state. On Thursday, the Justice Department and CFTC sued Arkansas Attorney General Tim Griffin to block his action against Kalshi.
⭐ A Supreme Court showdown over federal vs. state authority would decide the legal future of the fast-growing prediction market sector in the US.
#PredictionMarkets #CFTC #Kalshi #Polymarket #Regulation
CFTC Chair Michael Selig called state lawsuits against prediction market platforms "really egregious," saying states are bringing criminal charges against founders and CEOs offering lawful products under a federal regime. The CFTC is fighting roughly a dozen states and cities over whether event contracts on platforms like Kalshi and Polymarket are illegal gambling. Selig wants the Supreme Court to settle the question rather than battling state by state. On Thursday, the Justice Department and CFTC sued Arkansas Attorney General Tim Griffin to block his action against Kalshi.
⭐ A Supreme Court showdown over federal vs. state authority would decide the legal future of the fast-growing prediction market sector in the US.
#PredictionMarkets #CFTC #Kalshi #Polymarket #Regulation
