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NFL urges CFTC to reject manipulable prediction-market trades

Regulation

The NFL urged the Commodity Futures Trading Commission in a 29 March letter to discourage prediction-market operators from listing trades on officiating, injuries and other events vulnerable to manipulation. CFTC chairman Michael Selig said the agency would likely prohibit injury-related contracts where it identifies manipulation risks.

The CFTC’s approach could determine which sports-related event contracts prediction-market operators may list.

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Regulation

House Democrats seek subpoena power to investigate prediction-market trades

Seven House Democrats, led by Representative Chris Pappas, asked House Oversight Committee chair James Comer on Monday for subpoena power to investigate possible insider trading tied to prediction markets and US military operations. Their request follows allegations about trades ahead of military actions and a separate case involving a soldier accused of using confidential information; the lawmakers cited earlier calls for the Commodity Futures Trading Commission to restrict contracts linked to death or armed conflict.

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