U.S. Congress debates regulatory authority over prediction markets as disputes escalate between the CFTC and state governments

```htmlJinse Finance reported that the US House of Representatives Agriculture Committee's Digital Assets Subcommittee held a hearing to discuss regulatory issues concerning sports betting through prediction markets. Lawmakers questioned whether current laws and the CFTC’s resources are sufficient to oversee this rapidly growing industry. Over the past year, CFTC Chairman Michael Selig has taken a tough stance, asserting that the agency has "exclusive jurisdiction" over prediction markets such as Kalshi and Polymarket, and has filed lawsuits in several states. However, states have countered that these platforms violate local gambling laws, especially those related to sports betting. As the industry expands rapidly, this issue is becoming increasingly urgent. Kalshi and Polymarket are currently valued at approximately $22 billion and $15 billion, respectively. In March, the CFTC launched a rulemaking process aimed at establishing a broader regulatory framework for prediction markets. Representative Dusty Johnson stated: "Both the courts and the committee are taking action, and I do not believe Congress should remain silent."```