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U.S. CFTC Chair: Support Legal Innovation in Prediction Markets
Odaily Planet Daily reports that newly appointed U.S. Commodity Futures Trading Commission (CFTC) Chair Mike Selig posted on X stating support for legitimate innovations in prediction markets. Now is the time to establish clear rules.
It is reported that the CFTC has previously withdrawn a rule proposal that would have banned trading political event contracts in prediction markets. Currently, a new rulemaking is underway, and it is expected that the new rules will be more friendly to prediction markets.