The CFTC has finally taken action; the prediction market sector is about to change.

CryptoWorld News reports that the U.S. Commodity Futures Trading Commission (CFTC) submitted its first regulatory proposal for prediction markets on Wednesday, aiming to assess whether contracts comply with the limits under federal law. CFTC Chairman Mike Selig said the proposal will protect the integrity of regulated markets while not hindering responsible innovation. The proposal also includes a 90-day review process for public-interest assessments of individual contracts. President Trump recently said he supports this direction of the CFTC, emphasizing that other countries are also watching this new type of financial market.