By The Weekly Edge desk ·
CFTC chairman Michael Selig said state regulation of prediction markets would undermine federal market integrity, CasinoBeats reported. He made the comments at the Flyover Fintech conference in Lincoln, Nebraska.
Selig’s statement opposes state-level rules for prediction-market operators.
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Operators face unresolved gaming definitions as the CFTC deliberates and Nevada and New Jersey assert authority over sports-outcome contracts.
The court-linked sports shutdown limits Kalshi’s market offering in Washington State.
The lawsuit contests whether Wisconsin’s gambling laws apply to Novig’s sports contracts or federal commodities jurisdiction takes precedence.
Kalshi imposed a permanent ban and financial penalty over alleged manipulation involving Santos’s trading and public attendance statements.
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The framework brings responsible-trading requirements into Novig’s exchange operations.