U.S. CFTC Chair: Court ruling today confirms CFTC's exclusive regulatory authority over designated contract market trading

ME News Report, April 6 (UTC+8), U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig posted on the X platform stating that the U.S. Third Circuit Court of Appeals today reaffirmed Congress’s legislative intent, confirming that the CFTC has exclusive regulatory authority over designated contract markets (DCMs), and dismissed attempts by the New Jersey Gaming Commission to challenge this authority. Mike Selig also previously pointed out that U.S. federal law explicitly states that derivatives markets are regulated by the CFTC, whether it involves sports, politics, or oil prices. Under the federal regulatory framework, the CFTC has clear jurisdiction to oversee prediction markets and is obligated to defend regulations. (Source: ODAILY)

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