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CFTC Press Releases·

CFTC Sues to Block State Enforcement in Utah Amid Ongoing Efforts to Preserve Jurisdiction

  • The CFTC filed a lawsuit on October 27, 2026, against Utah to block state efforts to shut down CFTC-registered contract markets.
  • Utah initiated civil enforcement actions in state court against CFTC-regulated markets & other businesses.
  • The CFTC argues that Utah's restrictions obstruct Congress's decision to federally preempt state law regarding these markets.
  • CFTC Chairman Michael S. Selig stated that event contracts provide public information on future outcomes & serve hedging & investment purposes.
  • Chairman Selig emphasized that Congress entrusted the CFTC with sole responsibility to oversee these markets & defend its exclusive jurisdiction.
  • The CFTC reaffirmed its commitment to protecting federal sovereign interests if states challenge the lawful operation of derivatives exchanges.
  • The Commission has initiated legal proceedings against nine other states & submitted briefs in four federal courts of appeal & one state supreme court.