The U.S. CFTC Chair will restrict state-level regulators from intervening in prediction markets

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Gold Financial reports that, according to The Information, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael Selig, is pushing to limit state interference in prediction markets to prevent state-level regulatory measures from hindering or even stifling the industry’s development. The report states that Michael Selig himself is a sports fan and has placed numerous sports memorabilia in his office, which is seen as a reflection of his long-term interest in sports prediction markets. Since taking office several months ago, he has quickly begun related work, aiming to create a more relaxed federal regulatory environment for prediction markets, allowing more U.S. users to participate in prediction trading of sports events and other outcomes.

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