CFTC Chairman: Today's court ruling confirms the CFTC's exclusive regulatory authority over trading in designated contract markets.

CoinFeed reported on April 6 that Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated in a post on the X platform that the U.S. Third Circuit Court of Appeals today upheld Congress's legislative intent, confirming the CFTC's exclusive regulatory authority over Designated Contract Markets (DCMs) trading and rejecting the New Jersey gaming regulator's attempt to challenge this authority. Selig previously pointed out that U.S. federal law clearly stipulates that the derivatives market is regulated by the CFTC. Whether it's sports, politics, or oil prices, under the federal regulatory framework, the CFTC has clear jurisdiction to regulate the forecasting market and has an obligation to uphold the regulations.