US SEC chairman says regulators are focused on prediction markets

U.S. SEC Chairman Paul Atkins told the Senate Banking Committee that prediction markets are a significant issue on which regulators are focused. According to The Block, Atkins stated that both he and CFTC Chairman Michael Selig are concentrating on the matter. He added that while prediction markets are an area where jurisdiction can overlap, they fall mostly under the purview of the CFTC. Atkins also noted that the subtle distinctions between prediction markets and commodities often depend on the terminology used. He also mentioned that the SEC and CFTC meet once a week.