SEC chair says some prediction contracts may fall under securities rules
SEC Chair Paul Atkins told the Senate Banking Committee that some prediction-market contracts may fall under existing securities laws, depending on how they are structured. He said the CFTC would retain oversight of most of the sector and called for coordination between the agencies; sports-related contracts may instead fall under commodity rules or state gambling laws.
The comments signal that prediction-market operators may face different federal or state rules depending on their contracts.