U.S. CFTC chairman: “Prediction markets are also subject to regulation”… underscores derivatives jurisdiction
Minseung Kang
Summary
- The U.S. CFTC said it has again underscored its regulatory authority over prediction markets.
- Chairman Michael Selig said that a range of prediction markets—including sports, politics and crude oil prices—fall under oversight within the derivatives regulatory framework.
- He stressed that oversight of prediction markets is a legal obligation and that the relevant legal framework must be upheld.
Forecast Trend Report by Period
The U.S. Commodity Futures Trading Commission (CFTC) again underscored its regulatory authority over prediction markets.
On the 6th, CFTC Chairman Michael Selig said on X (formerly Twitter) that “federal law makes clear that derivatives fall under the CFTC’s jurisdiction,” adding that “various prediction markets—including sports, politics and crude oil prices—are also subject to oversight within that regulatory framework.”
He went on to stress that “oversight of prediction markets is a legal obligation, and the relevant legal framework must be upheld.”
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
