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CFTC Files Amicus Brief in Sixth Circuit Defending Federal Authority Over Prediction Markets

GateNews

Enforcement Actions Prediction Market

2026-05-13 11:31:55

The Commodity Futures Trading Commission filed an amicus brief in the U.S. Court of Appeals for the Sixth Circuit in the case KalshiEx LLC v. Matthew T. Schuler, arguing that state governments cannot regulate prediction markets already overseen by the federal agency. The CFTC contended that Congress established a comprehensive federal framework governing prediction markets and derivatives exchanges, and that state-level intervention conflicts with the agency’s exclusive jurisdiction. CFTC Chairman Michael S. Selig stated the federal district court adopted an “improperly narrow” interpretation of the Commission’s authority.

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