The Commodity Futures Trading Commission (CFTC) is pressing a federal appeals court to reaffirm that prediction markets fall under federal supervision instead of state gambling enforcement. In a brief filed Tuesday (May 12) with the U.S. Court of Appeals for the Sixth Circuit, the agency asked judges to overturn an Ohio ruling tied to Kalshi’s ongoing dispute with state regulators. The filing argues that Congress already gave the CFTC sole authority over futures, swaps, and similar financial products traded on federally regulated exchanges. Today’s amicus brief represents the @CFTC ’s continued effort to protect our jurisdiction over prediction markets from the ongoing campaign of state encroachment. As I’ve said repeatedly, the agency will not allow overzealous state governments to undermine our longstanding… https://t.co/RDFDglsWkd — Mike Selig (@ChairmanSelig) May 12, 2026 The case has become one of the highest-profile clashes between state gambling laws and the prediction markets industry.…