CFTC Chairman Mike Selig has reiterated the agency's claim to exclusive regulatory authority over prediction markets, stating that states cannot effectively oversee these markets. Speaking at the Digital Assets and Emerging Tech Policy Summit in Nashville, Tennessee, Selig highlighted ongoing lawsuits against states such as Arizona, Illinois, and Connecticut, which he believes underscore the CFTC's jurisdiction over commodity derivatives markets. He noted that the agency's stance is bolstered by a recent Third Circuit Court ruling affirming the CFTC's oversight role. Selig emphasized that any validly offered product on a CFTC-regulated exchange falls under federal regulation, regardless of whether it pertains to sports, politics, or other areas. The CFTC is also engaged in a formal rulemaking process to clarify its oversight of prediction markets, inviting public suggestions on how to evaluate these products. Furthermore, Selig discussed the agency's collaborative efforts with the Securities and Exchange Commission (SEC) to establish clear guidelines for digital asset futures products, ensuring that companies can self-certify without regulatory conflicts. As the CFTC continues to assert its authority, the implications for prediction market providers and state regulators remain significant.