CFTC chair begins public comment period on prediction market rules

U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig announced via X that the agency has initiated a public comment period for new regulations on prediction markets. He added that the proposal aims to establish a framework for evaluating the types of events suitable for betting, with the goal of balancing market integrity and innovation, and noted that this would not be the final regulation. The Wall Street Journal (WSJ) previously reported that the CFTC had unveiled a proposal to permit sports-related betting while completely banning wagers on events with a high potential for insider trading, such as wars, terrorism, and assassinations.