"The CFTC's amicus brief emphasizes its exclusive authority over U.S. commodity derivatives markets, including prediction markets, as part of its defense against state challenges."
"CFTC Chairman Michael S. Selig stated that some states are pursuing illegal enforcement actions against CFTC-regulated exchanges, which threatens the unified national oversight framework."
The CFTC filed an amicus brief asserting its exclusive authority over prediction markets in the Massachusetts Supreme Judicial Court case involving KalshiEx. This action is part of a broader effort to defend against state-level challenges to its oversight. The CFTC's authority is rooted in the Commodity Exchange Act, which preempts state laws in regulated markets. The agency was established to create a uniform national system for futures trading, and it has exclusive control over futures, options, and swaps on regulated exchanges.
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