U.S. CFTC Chairman Warns State Authorities Over Prediction Markets

On the 17th, Chairman Michael Zerlig of the U.S. Commodity Futures Trading Commission (CFTC) made a clear statement of confrontation to state authorities regarding the regulatory authority over prediction markets, saying 'I'll see you in court.' This reaffirms the exclusive regulatory authority based on federal law.

In an article contributed to the WSJ, Mr. Zerlig announced his support for the submission of amicus briefs in lawsuits involving platforms like Crypto.com and Kalshi. He harshly criticized the moves by some states, such as Nevada, to regulate prediction markets as 'illegal gambling' as 'excessive exercise of power.'

This stance comes ahead of a dramatic policy shift with his appointment as chairman at the end of 2025, moving away from the strict prohibitions of the previous administration...