CFTC Chairman Supports Legal Innovation in Prediction Markets

Odaily News: Newly appointed U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig stated in a post on platform X that he supports legal innovation in prediction markets, and now is the time to establish clear rules.

It is reported that the CFTC previously withdrew a rule proposal that would have prohibited trading political event contracts in prediction markets. It is currently advancing a new rulemaking process, which is expected to be more favorable towards prediction markets.