[Opinion] CFTC Chair Nominee Michael Selig Will 'Look to Courts' Regarding Sports Event Contract Regulations

Trump’s CTFC nominee sits on the fence regarding prediction markets

Michael Selig, Donald Trump’s nominee to lead the Commodity Futures Trading Commission (CTFC), has stressed questions on the legality of prediction markets will be a matter for the courts. The CTFC is the federal body that regulates events-based contracts and currently allows platforms such as Kalshi and Crypto.com to offer prediction markets nationwide. Selig was expected to take a positive stance on these markets if approved as chair after hel…

Selig: Up To Courts To Determine Legality Of Sports Event Contracts

Democratic Senators pressed Mike Selig, President Trump’s nomination as the next head of the Commodity Future Trading Commission, about sports event contracts during a hearing before the Agriculture, Nutrition and Forestry Committee today. Selig’s responses were consistent: As CFTC chair, he will rely on the courts to determine the legality of prediction markets offering products the majority of states and tribes contend are equivalent to sports…

CFTC Chair Nominee Michael Selig Will 'Look to Courts' Regarding Sports Event Contract Regulations

CFTC Chair Nominee Michael Selig said today during his nomination hearing that he will lean on courts regarding his opinion to sports event contracts When asked if he would commit to enforcing CFTC prohibition regarding event contracts related to gaming, he said he would adhere to court opinions and Congress Selig assured committee if elected as CFTC chair he would ensure sports event contract safeguards are in place to avoid manipulation Commod…