CME Group CEO says CFTC's regulation of prediction markets is "a bit of a stretch," expects the issue to ultimately be decided by the Supreme Court

PANews, October 13 – According to The Block, CME Group CEO Terrence Duffy said the U.S. Commodity Futures Trading Commission's (CFTC) attempt to expand its regulatory authority over prediction markets is "a bit of a stretch," and that the related regulatory dispute may ultimately reach the U.S. Supreme Court.

Terrence Duffy noted that the fight over prediction market regulatory authority could turn into a legal battle between state governments, tribal governments, and the federal government, saying: "This will go to the Supreme Court, and I think the states and the tribes will have the upper hand."

CME Group is one of the world's largest derivatives exchange operators, with platforms offering trading services for a variety of financial derivatives including futures and options. In recent years, prediction markets have drawn more attention due to the development of platforms such as Polymarket and Kalshi.