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ARTICLE · 26 FEBRUARY 2026

Financial Markets And Funds Quick Take | Issue 47

Katten
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Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds.

GlobalFinance and Banking
Adam Bolter
Adam Bolter
Cathleen A. Booth
Cathleen A. Booth
Wendy Cohen
Wendy Cohen
Christopher Collins
Christopher Collins
Daniel J. Davis
Daniel J. Davis
Michael Didiuk
Michael Didiuk
Nicholas Gervasi
Nicholas Gervasi
Carolyn Jackson
Carolyn Jackson
Carl E. Kennedy
Carl E. Kennedy
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Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds.

Chairman Selig and the CFTC Make the Case for Federal Jurisdiction Over Prediction Markets

By Daniel Davis, Carl Kennedy, Alexander Kim

The Commodity Futures Trading Commission (CFTC) is not waiting for the courts to sort out who regulates prediction markets. In the span of a couple days, CFTC Chairman Michael S. Selig published an op-ed in The Wall Street Journal making the affirmative case for federal oversight of event contracts, and the Commission filed an amicus brief in North American Derivatives Exchange, Inc. v. The State of Nevada in the Ninth Circuit arguing that state gambling laws are preempted by the CFTC's exclusive jurisdiction over swaps and futures traded on designated contract markets (DCMs). Read about Chairman Selig's principal arguments.

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