CFTC Chair Selig Vows To Stop Prediction Market Fraud
BeInCrypto
CFTC Chairman Michael Selig pledged to use the full force of the law against fraud and insider trading within prediction markets.Summary
Commodity Futures Trading Commission (CFTC) Chairman Michael Selig testified before the House Agriculture Committee, asserting the agency's authority to regulate prediction markets. Faced with concerns regarding suspicious $500 million oil trades potentially linked to political announcements, Selig emphasized a zero-tolerance policy toward market manipulation. He further highlighted a new memorandum of understanding with the SEC intended to improve coordination on digital asset oversight while defending his decision to continue rulemaking despite being the agency's sole commissioner.
(Source：BeInCrypto)