PANews 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 ruled to reaffirm Congress's legislative intent, confirming that the CFTC has exclusive regulatory authority over Designated Contract Markets (DCMs) trading, and rejecting the New Jersey gaming regulator's attempt to challenge this authority.

Mike Selig previously pointed out that U.S. federal law clearly stipulates that the derivatives market is regulated by the U.S. Commodity Futures Trading Commission (CFTC). Whether it is sports, politics, or oil prices, the CFTC has clear jurisdiction to regulate the forecasting market under the federal regulatory framework and has an obligation to uphold the regulations.