U.S. CFTC in talks with every major pro sports league on policing prediction markets
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.
The discussions between the CFTC and major sports leagues may lead to increased regulatory clarity around prediction markets, potentially boosting investor confidence. This could result in a bullish sentiment in the crypto market related to derivatives and prediction assets.
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.
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