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⚖️ Former SEC Chair Gensler Rejects CFTC Authority Over Prediction Market Sports Betting

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- Jun 13, 2026
- american gaming association prediction markets brief better markets amicus brief cftc 45-day comment period cftc chair michael selig jurisdiction claim cftc jurisdiction sports betting swaps cftc no categorical ban prediction markets cftc proposed rules event contracts cftc regulation 40.11 gaming definition cftc vs states prediction markets dodd-frank act sports wagering authority federal preemption state gambling laws gary gensler amicus brief prediction markets gensler cftc funding lack experience gensler harry reid nevada argument gensler rejects cftc prediction market claim gensler sec chair crypto regulation gensler sixth circuit amicus brief indian gaming association kalshi opposition kalshi ohio lawsuit 2025 kalshi polymarket $150 billion volume kalshi preliminary injunction denied kalshi trademark application sports betting ninth circuit states likely win prediction market industry fragmentation risk prediction markets supreme court likely sports betting hedging argument rejected sports event contracts swaps or gambling third circuit prediction markets ruling tribal sovereignty prediction markets
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