727 FinancePANews October 13 news, according to The Block, CME Group CEO Terrence Duffy said that 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 the related regulatory dispute may ultimately reach the U.S. Supreme Court.
Terrence Duffy pointed out that the battle over regulatory jurisdiction over prediction markets could evolve into a legal contest among state governments, tribal governments, and the federal government, and said: "This will go to the Supreme Court, and I think state governments and tribal governments will have the advantage."
CME Group is one of the world's largest derivatives exchange operators, and its platforms provide trading services for multiple types of financial derivatives, including futures and options. Prediction markets have attracted more attention in recent years due to the development of platforms such as Polymarket and Kalshi.