Utah Governor Vows to 'Beat' Trump Official in Court Over Prediction Market Regulation

Republican Gov. Spencer Cox promises to use 'every resource' to fight CFTC chairman's effort to limit state authority over gambling-like prediction markets.

Published on Feb. 23, 2026

Got story updates? Submit your updates here. ›

Utah Governor Spencer Cox, a Republican, has issued a stern rebuke to Brian Selig, the Trump-appointed chairman of the Commodity Futures Trading Commission (CFTC), over Selig's efforts to limit state governments' ability to regulate prediction markets. Cox vowed to 'beat' Selig 'in court' using 'every resource' at his disposal as governor, calling the prediction markets 'gambling' that are 'destroying the lives of families and countless Americans'.

Why it matters

This clash highlights the ongoing tensions between state and federal authority, with Republican-led states seeking to maintain control over issues like gambling and regulation, while the Trump administration's appointees aim to expand federal power. The outcome could set an important precedent for the future of state sovereignty and the regulation of emerging financial products like prediction markets.

The details

Selig, the CFTC chairman, announced that the agency would file a 'Friend of the Court' brief to defend its 'exclusive jurisdiction' over prediction markets, which he claimed provide 'useful functions for society.' However, Cox rejected this assertion, arguing the CFTC has no authority over 'the 'derivative market' of LeBron James rebounds' and that the prediction markets are simply 'gambling' that are harming Americans, especially young men. The governor vowed to use all available legal resources to defeat Selig's efforts in court.

  • On February 17, 2026, Utah Governor Spencer Cox responded to CFTC Chairman Brian Selig's announcement.
  • Selig released a social media clip on Tuesday, February 17, 2026, outlining the CFTC's plans to defend its jurisdiction over prediction markets.

The players

Spencer Cox

The Republican governor of Utah who is vowing to fight the CFTC's efforts to limit state regulation of prediction markets.

Brian Selig

The Trump-appointed chairman of the Commodity Futures Trading Commission (CFTC) who is seeking to defend the agency's authority over prediction markets.

Chris Christie

The former Republican governor of New Jersey who responded to Selig's announcement, criticizing federal bureaucrats for not being truthful and trying to 'crush states rights'.

Got photos? Submit your photos here. ›

What they’re saying

“Let me be clear, I will use every resource within my disposal as governor of the sovereign state of Utah, and under the Constitution of the United States to beat you in court.”

— Spencer Cox, Governor of Utah (Twitter)

“Not telling the truth with a straight face is another trait of federal bureaucrats who just want to grow the size of the federal government & their own power while trying to crush states rights and take advantage of our citizens. Sports betting is not a derivative, it's gambling.”

— Chris Christie, Former Governor of New Jersey (Twitter)

What’s next

The judge in the case will decide whether to allow the CFTC to intervene and defend its jurisdiction over prediction markets in Utah.

The takeaway

This clash between a Republican state governor and a Trump-appointed federal regulator underscores the ongoing battle over state sovereignty and the regulation of emerging financial products. The outcome could set an important precedent for the balance of power between states and the federal government.