Michael S. Selig
Role at the time: Chairman of the Commodity Futures Trading Commission
Condemned
Responding to
Can Connecticut regulate sports prediction markets as gambling?
“The CFTC will continue to safeguard its exclusive regulatory authority over these markets and defend market participants against overzealous state regulators”
Why we used this label
Selig criticizes the state regulators' intervention and argues that inconsistent requirements undermine consumer protection. That is substantive criticism of the challenged restrictions, beyond a disagreement over how to describe the contracts.
CFTC announces lawsuits against Connecticut, Arizona and Illinois (opens in a new tab) - Commodity Futures Trading CommissionRelease 9206-26; opening paragraph and Chairman Michael S. Selig quotation
The agency's April announcement identifies Connecticut among three states it sued. Selig's quoted position concerns that earlier dispute; it is not a response to the September orders. His description of federal authority is the agency's position.