Summary
- The US Commodity Futures Trading Commission said it is in talks with major professional sports leagues to strengthen oversight of sports-based prediction markets.
- CFTC Commissioner Summer Mersinger said the agency signed a data-sharing memorandum of understanding (MOU) with Major League Baseball and has filed five or six lawsuits against some state governments seeking to restrict the market.
- Market participants are watching how the CFTC's regulatory tightening could affect the prediction market industry and the sports data business, with the future scope of regulation and the outcome of legal disputes emerging as key variables.
Forecast Trend Report by Period
The US Commodity Futures Trading Commission is in talks with major professional sports leagues as it moves to tighten oversight of sports-based prediction markets, signaling a broader effort to refine the regulatory framework.
CoinDesk reported on May 12 that CFTC Commissioner Summer Mersinger said the agency had signed a data-sharing memorandum of understanding with Major League Baseball.
The CFTC is also holding related discussions with other US professional sports leagues.
"Sports event contracts are federally regulated derivatives, not simple gambling," Mersinger said.
She added that the agency has already filed five or six lawsuits against some state governments seeking to restrict the market.
Prediction market platforms tied to sports results and events have been gaining traction in the US.
Market participants are watching how the CFTC's tighter regulatory stance could affect the prediction market industry and the sports data business. The scope of future regulation and the outcome of legal disputes are emerging as key variables.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
