U.S. CFTC in talks with every major pro sports league on policing prediction markets
CoinDesk·
60-second summary
The U.S. CFTC is in talks with every major professional sports league to police prediction markets, Chairman Michael Selig reveals. The agency has already taken several states to court to prove that sports contracts aren't just betting but derivatives. This move aims to regulate the multi-billion-dollar sports betting industry and prevent potential market manipulation.
Chairman Michael Selig says the agency has already taken several states to court to prove that sports contracts aren't just betting but that they're derivatives.