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The U.S. CFTC Chair will restrict state-level regulatory measures from interfering with or hindering prediction markets
ME News Message. On May 3 (UTC+8), Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (Commodity Futures Trading Commission, CFTC), is pushing to restrict state interference in prediction markets (Prediction Markets) to prevent state-level regulatory actions from hindering the industry’s development. Since taking office a few months ago, Michael Selig has moved quickly to advance this effort, seeking to create a more permissive federal regulatory environment for prediction markets so that more U.S. users can participate in trading on the outcomes of sports events and other events. As a sports fan, Michael Selig has filled his office with a large collection of sports memorabilia, including Philadelphia Eagles merchandise related to his hometown of Philadelphia—an arrangement also seen as reflecting his long-standing interest in the sports betting market. (Source: PANews)