A declaration of war by the CFTC against federal states attempting to intervene in the jurisdiction of the prediction market has intensified the competition for jurisdiction over the prediction market business. The core meaning of the public speech delivered by the Chairman of the CFTC yesterday is: "The prediction market, event contracts, and some encrypted derivatives are under the jurisdiction of the CFTC. Anyone who dares to disagree (especially referring to certain states wanting to legislate their own intervention) can see it in court. Under the leadership of President Trump, we have turned to support encryption in an all-round way. If the United States wants to be the leader, no one will want to seize the territory. ” The background of this statement is that some states in the United States want to bypass federal regulation of these businesses in their own states. Multiple states in the United States are actively challenging the CFTC's exclusive jurisdiction over prediction markets, including event contracts, attempting to classify these markets as "state-level gambling/sports betting" and prohibit or restrict them under state gambling laws. Resulting in the CFTC Chairman taking a firm regulatory stance on predicting market/event contracts and issuing harsh words. Of course, it is also related to Trump's policy shift after his second term of office, the comprehensive support for encryption+forecasting market innovation, and the explosive growth of the whole forecasting market business in 25 years. Kalshi、Polymarket、 Even platforms such as Coinbase/Robinwood have seen a surge in trading volume, involving political, sports, entertainment, and news events. Currently, the scale has reached billions of dollars, and the growth rate has not slowed down. In recent months, multiple states in the United States (Nevada, New York, Massachusetts, Maryland, New Jersey, Connecticut, Tennessee, etc.) have issued cease and desist orders, filed lawsuits, or won temporary injunctions. Federal state perspective: Predicting the market These are "unauthorized sports betting/gambling" that infringe on state gambling regulatory rights and tax benefits, and should be governed by state law. However, platforms such as Kalshi and Polymarket launched a counterattack and sued in federal court, claiming that the CFTC's federal jurisdiction has priority and that states have no right to intervene. By February, there had been dozens of lawsuits/enforcement actions against the prediction market in various states. Mike Selig's response to these enforcement/litigation actions by various states is that he announced that the CFTC will no longer "sit idly by" and will actively intervene in litigation (such as submitting an amicus brief to support platform parties, assisting various predictive market platforms in the Ninth Circuit Court, etc.). In fact, it is a public proclamation: 'Whoever dares to challenge the authority of the CFTC over these contracts in the federal states, see the court.'. The main purpose is to appeal to state regulatory agencies and state attorneys general, directly warning them not to use state gambling laws to bypass/weaken the federal authority of the CFTC, otherwise the CFTC will sue (and may appeal to the Supreme Court). The purpose is to deter and prevent more states from following up on the ban. Of course, it is also an indirect reassurance and encouragement to the operators of prediction market platforms (Kalshi, Polymarket, Coinbase, etc.): "Don't worry, the CFTC will use federal authority to protect your legal operations in the United States. The White House has turned to support, you boldly innovate. ” This is the CFTC's declaration of war in the state vs. federal jurisdiction war. Selig represents the Trump government's clear attitude that the predicted market/event contract is under the control of our federal CFTC, and the state should not want to cross the border. Anyone who disagrees with it will be judged by the court. The CFTC must strike back firmly to maintain its authority and support industry development. Bitget buys US stocks: instant entry, silky trading http://(bitget. com)/markets/stocks