American Gaming Association President Bill Miller Calls CFTC Boss a ‘Joke’
Posted on: May 9, 2026, 10:54h.
Last updated on: May 9, 2026, 10:54h.
- Bill Miller of the AGA says the head of the CFTC is “a joke”
- Miller opposes the CFTC allowing prediction markets to offer trading on contracts involving sports
Bill Miller and Michael Selig won’t likely be vacationing together anytime soon. Miller, the president and CEO of the American Gaming Association, didn’t hold back his disdain for the president of the Commodity Futures Trading Commission during an event this week in Las Vegas.
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. Under Selig’s tenure, who was hand-picked by President Donald Trump, the CFTC has said it has the authority to regulate sports trading on derivative markets.
Miller, along with many state lawmakers, attorneys general, and gaming regulators, says 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 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.
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