U.S. CFTC in talks with every major pro sports league on policing prediction markets
CoinDesk
The U.S. CFTC is collaborating with major professional sports leagues to monitor and regulate insider trading within sports-based prediction markets.Summary
U.S. CFTC Chairman Michael Selig announced that the agency is engaged in discussions with all major professional sports leagues to enhance oversight of sports-related prediction markets. Following a landmark data-sharing agreement with Major League Baseball, the CFTC aims to prevent market manipulation and insider trading, such as staff wagering on nonpublic injury information. Selig reaffirmed the agency's commitment to federal authority over these derivatives, noting that the CFTC has initiated legal action against states attempting to block federally regulated event contracts.
(Source：CoinDesk)