CFTC Chairman Michael Selig declared that event contracts are commodity derivatives falling squarely within the agency's regulatory remit under the Commodity Exchange Act. Selig emphasized that these products remain under the CFTC’s exclusive jurisdiction as part of a new proposal regarding their classification and oversight. The statement clarifies the regulator's stance on event contracts, affirming they are subject to federal commodity trading laws rather than alternative regulatory frameworks. This assertion reinforces the CFTC's authority over the growing market for outcome-based derivative products.