The U.S. CFTC Chair is working to restrict state enforcement interventions against prediction markets.

ChainCatcher news, according to The Information, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael Selig, is moving to restrict law-enforcement interventions by states against prediction markets, to prevent state-level regulatory actions from hindering the industry’s development.

Since taking office a few months ago, Michael Selig has been working to create a more relaxed federal regulatory environment for prediction markets, so that more U.S. users can participate in trading the outcomes of sports events and other events. Over the past year, Selig has continued to support prediction markets—writing in February to warn that he would sue state governments attempting to interfere with regulation, issuing compliance guidance in March and publicly soliciting industry feedback, and this month stating that if prediction markets are pushed offshore, it would repeat the FTX-style collapse.