CFTC (Commodity Futures Trading Commission)
The Commodity Futures Trading Commission is the independent U.S. federal agency that regulates derivatives markets: futures, options and swaps. Congress created it in 1974. Because a regulated prediction-market contract is legally a derivative, the CFTC is the federal regulator for U.S. prediction-market exchanges. It designates the exchanges, oversees their rules and surveillance, and can review the contracts they list. Whether its jurisdiction displaces state gambling law is the central question in the current litigation over prediction markets.
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