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CFTC Chairman Michael Selig stated that the CFTC is considering clarifying through formal rules that non-custodial software developers do not need to register as brokers. Previously, the agency issued a no-enforcement letter to crypto wallet provider Phantom, stating that qualifying self-custody wallet software developers do not need to register as brokers; Selig also reiterated that prediction markets fall under the CFTC's federal jurisdiction and said the agency will continue to sue state governments attempting to restrict prediction markets based on state gambling laws. (The Block)