Chairman Michael Selig of the U.S. Commodity Futures Trading Commission (CFTC) stated that the CFTC is negotiating with all major professional sports leagues in the United States to strengthen regulation of sports-related prediction markets, focusing on cracking down on insider trading and market manipulation. Previously, the CFTC signed a data sharing agreement with Major League Baseball (MLB) in March. Selig said that the CFTC has sued about five or six states in response to their attempts to block federal regulatory events contracts, emphasizing that derivatives listed on CFTC-regulated exchanges should be subject to federal regulation rather than state gambling laws. (CoinDesk)

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