Gambling is Done in Casinos, Not on Prediction Markets, Says CFTC’s Selig

CFTC chairman Michael Selig has doubled down on his assertion that prediction markets like Kalshi and Polymarket do not offer gambling services. Speaking on the Glenn Beck Podcast, Selig repeated that view and emphasised the commission’s position on oversight.

According to CasinoBeats, Selig also said the commission is the only body in the US with the power to police operating permit-holding activity, restating the agency’s claim of exclusive authority. His comments singled out Kalshi and Polymarket as examples while underlining that, in his view, those platforms sit outside traditional gambling definitions.