CFTC Faces More Pushback From States Over Prediction Markets

The Commodity Futures Trading Commission is facing more opposition from states over the agency’s bid to be the sole regulator of prediction markets.

Utah Governor Spencer Cox said Tuesday that he would exhaust the resources of his office to push back against the CFTC after Chairman Michael Selig asserted the agency had “exclusive jurisdiction” over exchanges like Kalshi Inc. and Crypto.com.