CFTC Chairman Mike Selig has declared that the Commodity Futures Trading Commission (CFTC) holds exclusive regulatory authority over prediction markets, asserting that state laws cannot supersede federal derivatives regulations. Selig emphasized that any product legally offered on a CFTC-regulated platform, regardless of its underlying asset, falls under the CFTC's jurisdiction. This announcement comes amid the CFTC's legal actions against Arizona, Illinois, and Connecticut to affirm its regulatory dominance. Selig also highlighted the CFTC's ongoing efforts to clarify regulatory details for prediction markets through formal rulemaking, inviting stakeholder input. Additionally, he referenced the recent joint guidance issued by the CFTC and SEC on digital asset classification, which delineates the boundaries between tokenized securities and commodities. This framework aims to streamline the self-certification process for digital asset futures products, ensuring regulatory consistency between the two agencies.