CFTC chair points to prediction market rulemaking at House hearing
CFTC Chairman Michael Selig told the House Committee on Agriculture on Thursday that he would not prejudge issues before the agency’s prediction market rulemaking. He also said the CFTC would pursue fraud, manipulation and insider trading; the agency’s proposed rulemaking was published on 16 March, with comments open through April.
The CFTC’s rulemaking could shape how prediction-market event contracts, including sports contracts, are treated.