American Gaming Association President Bill Miller Calls CFTC Boss a ‘Joke’
Posted on: May 9, 2026, 10:54h.
Last updated on: May 11, 2026, 05:03h.
- AGA chief Bill Miller didn’t hold back, labeling CFTC Chairman Michael Selig a “joke” for his agency’s sudden pivot into the sports betting arena
- The AGA is doubling down on its opposition to the CFTC’s new prediction market rules, claiming they bypass the consumer protections that legal sportsbooks spent decades building
The gloves are off in Las Vegas as American Gaming Association chief Bill Miller launched a blistering verbal assault on CFTC Chairman Michael Selig. Calling the federal regulator a ‘joke’ during a major industry summit, Miller signaled a widening war between established sportsbooks and the government’s push into prediction markets.
Appearing at Park MGM for an event called “The Insider’s View on Las Vegas and Gaming in 2026,” hosted by The Economic Club of Las Vegas, Miller scolded the CFTC for allowing prediction markets to trade contracts involving sports outcomes.
Hand-picked by Donald Trump, CFTC Chairman Michael Selig is now claiming unprecedented federal authority to regulate sports betting—a move that has sent shockwaves through the gaming industry.
Responding to this, Miller, along with many state lawmakers, attorneys general, and gaming regulators, has claimed prediction markets are engaged in sports betting, violating and overriding state laws.
Selig a ‘Joke’
Prediction markets were a major talking point during the discussion, which additionally included Mike Dreitzer, chair of the Nevada Gaming Control Board. Miller opined that the CFTC has ventured far outside of its intended purpose of regulating the Commodity Exchange Act.
The head of the CFTC, quite frankly, is a joke,” Miller said. “A federal regulator charged with regulating derivatives around agricultural contracts should not be engaged in [sports betting].”
The CFTC was created in 1974 as an independent agency of the federal government to oversee certain derivatives markets, including futures, swaps, and options. The CFTC has been the primary exchange for the trading of futures contracts related to agricultural commodities.
“America’s agriculture producers utilize derivatives markets to manage many of the risks they face every day, like low commodity prices and high input costs. These same producers depend on the CFTC’s oversight to effectively hedge those risks and discover prices in the markets,” the CFTC website explains.
But under Selig’s time at the helm of the CFTC, the agency has designated the outcome of the Lakers and Thunder NBA Playoffs series as a permissible trading event. Selig maintains that such trading is an “innovative financial product” that his agency has the power to regulate.
While some may harbor skepticism about innovative financial products, we firmly stand by our jurisdiction and remain committed to protecting it. These markets provide significant benefits to individuals, businesses, and the broader economy, and we will continue to ensure their integrity and growth,” Selig wrote in a release this month in response to skepticism.
“The CFTC continues to serve as a vigilant regulator of prediction markets. These platforms operate as federally regulated exchanges with clearinghouses and comprehensive investor protections, identical to those found in other derivatives markets. Our agency remains dedicated to overseeing these markets thoroughly and responsibly,” Selig added.
Trump Prediction Market
Donald Trump Jr. serves as an advisor to Kalshi and Polymarket.
Last fall, Trump Media & Technology Group (TMTG) announced its plans to launch its own prediction market, dubbed Truth Predict. The platform is being developed through a partnership with Crypto.com, which is a registered exchange with the CFTC.
No comments yet