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The U.S. CFTC Chair will restrict state-level regulatory measures from interfering with or hindering prediction markets
ME News Report, May 3rd (UTC+8), 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 regulations from hindering the industry’s development. Since taking office a few months ago, Michael Selig has quickly begun work to create a more relaxed federal regulatory environment for prediction markets, allowing more U.S. users to participate in betting on sports events and other outcomes. As a sports fan, Michael Selig has placed numerous sports memorabilia in his office, including items related to his hometown Philadelphia Eagles, which is also seen as a reflection of his long-term interest in the sports betting market. (Source: PANews)