On April 6 (UTC+8), U.S. CFTC Chairman Mike Selig confirmed the CFTC’s exclusive jurisdiction over DCM trading, following a ruling by the U.S. Third Circuit Court of Appeals. The court dismissed the challenge brought by New Jersey gaming regulators. Selig reaffirmed that federal law grants the CFTC authority over derivatives, including markets for sports, political, or oil price predictions. The decision supports broader regulatory initiatives such as MiCA and CFT, reinforcing federal oversight in financial markets.

ME News reports that on April 6 (UTC+8), CFTC Chair Mike Selig posted on X that the U.S. Court of Appeals for the Third Circuit today reaffirmed Congress’s legislative intent, confirming the CFTC’s exclusive regulatory authority over trading on Designated Contract Markets (DCMs) and rejecting attempts by New Jersey’s gaming regulators to challenge this jurisdiction. Mike Selig previously noted that U.S. federal law explicitly subjects derivatives markets to CFTC oversight; whether related to sports, politics, or oil prices, the CFTC has clear jurisdiction under the federal regulatory framework to regulate prediction markets and a duty to defend these regulations. (Source: ODAILY)