MLB teams up with the CFTC and Polymarket on prediction markets…a first-of-its-kind case
Summary
- U.S. professional baseball league MLB said it has established a cooperation framework related to prediction markets.
- MLB said it signed an information-sharing MOU with the CFTC to strengthen consumer protection in prediction markets.
- MLB also said it entered into an exclusive prediction-market partnership agreement with Polymarket.
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Major League Baseball (MLB) has put in place a cooperation framework related to prediction markets.
According to CoinDesk, a cryptocurrency-focused media outlet, MLB on the 19th (local time) signed a memorandum of understanding (MOU) with the Commodity Futures Trading Commission (CFTC) to share information aimed at strengthening consumer protection in prediction markets.
MLB also entered into an exclusive prediction-market partnership agreement with Polymarket.
The agreement is seen as the first collaboration between a U.S. derivatives regulator and a professional sports organization.
CFTC Chairman Michael Selig said, "This cooperation will help protect markets and users from fraud, manipulation and other abuses," adding that it is "a step to enhance the integrity and stability of professional baseball prediction markets."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
