U.S. CFTC Chairman Moves to Limit State-Level Regulatory Intervention in Prediction Markets
Svmuu Svmuu News: U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig announced that the agency is pushing to limit state-level intervention in prediction markets, aiming to prevent state regulatory measures from hindering or even stifling the industry's development.
Sources indicate that Michael Selig, a sports fan himself with his office decorated with extensive sports memorabilia, has long shown interest in sports prediction markets. Since taking office several months ago, he has swiftly initiated related efforts to create a more lenient federal regulatory environment for prediction markets, enabling more U.S. users to participate in trading predictions on sports events and other outcomes. (The Information)