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CFTC Chairman Selig Says Agency Will Defend Federal Authority Over Prediction Markets

Selig said the CFTC (U.S. derivatives regulator) will "vigorously defend" what he described as the agency’s exclusive authority against state efforts to use gambling laws on federally regulated platforms.

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Terms & Concepts
  • Prediction markets: Platforms where users trade on the outcome of future events, often structured as regulated derivatives contracts.
  • CFTC: The Commodity Futures Trading Commission, the U.S. regulator that oversees derivatives markets, including certain event-based contracts.