The U.S. House Agriculture Committee's Digital Assets Subcommittee convened to discuss the regulation of sports betting prediction markets, amid concerns over the adequacy of current laws and CFTC resources. CFTC Chairman Michael Selig has asserted the agency's exclusive jurisdiction over these markets, engaging in litigation with several states. The committee examined the CFTC's fiscal year 2027 budget request of $410 million, which is significantly lower than the SEC's $1.9 billion budget. Committee Chairman Glenn Thompson indicated a willingness to explore potential regulatory gaps and consider new legislation. Congressman Dusty Johnson emphasized the need for updated laws to address changes in derivatives products, urging Congress to take action alongside the courts and the commission.