CFTC chair Michael Selig is all-in on prediction markets — but warns there has to be aggressive protection against ‘insider trading’
By Lydia Moynihan
Published on April 10, 2026.
Commodity Futures Trading Commission Chairman Michael Selig has stated that the US should be the hub for prediction markets, but emphasised the need for aggressive protection against 'insider trading'. Selig, who was sworn in on Dec. 22, 2025, aims to balance innovation and enforcement in his new regulatory framework. He warns that if the US does not take leadership in these markets, these markets will flourish offshore. The CFTC has filed a lawsuit against states such as Illinois, Arizona, and Connecticut for regulating prediction markets as gambling products under state jurisdiction. Critics are concerned that these markets are inherently predatory and that Selig may not be able to oversee them.
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