CFTC signals federal oversight of sports event contracts amid state opposition
CFTC chairman Michael Selig said the agency will enforce its authority over sports event contracts, despite the prospect of legal challenges from states. The CFTC is considering a regulatory framework for event contracts, while Senator Catherine Cortez Masto and state officials argue that the platforms amount to unlicensed sports wagering.
The dispute could shape whether prediction-market platforms offering sports contracts face federal or state gambling oversight.