TITLE: Commodities Futures Trading Commission Reaffirms Exclusive Jurisdiction Over Prediction Markets in Massachusetts Court Filing BODY: On April 24, 2026, the Commodities Futures Trading Commission (CFTC) filed an amicus brief in the Massachusetts Supreme Judicial Court asserting its exclusive jurisdiction over prediction markets in the United States. The filing was submitted in the case Commonwealth of Massachusetts v. KalshiEx LLC (No. SJC-13906) and confirms the CFTC's authority to regulate event contract markets, commonly referred to as prediction markets, as commodity derivatives. The amicus brief outlines the history and structure of the Commodity Exchange Act, demonstrating how Congress's comprehensive regulatory scheme preempts state laws as applied to CFTC-regulated markets. The filing represents part of the CFTC's broader effort to protect its jurisdiction over prediction markets from what it characterises as ongoing state encroachment. CFTC Chairman Michael S. Selig stated that some states continue to pursue "ever-escalating, illegal enforcement actions" against CFTC-regulated exchanges, despite previous court rulings halting such efforts. The CFTC has previously initiated legal action against Arizona, Connecticut, Illinois, and New York regarding state regulation of prediction markets. The Commission secured a temporary restraining order against state regulation of CFTC-regulated prediction markets in Arizona. Additionally, the CFTC has filed an amicus brief and presented arguments regarding state law preemption before the U.S. Court of Appeals for the Ninth Circuit. The filing reinforces the CFTC's position that Congress has granted it sole regulatory authority over commodity derivatives markets, including prediction markets, and that state-level regulatory efforts conflict with federal law.

CFTC Reaffirms Exclusive Jurisdiction Over Prediction Markets in Massachusetts Supreme Judicial Court Filing | CFTC

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