‘See You in Court’, CFTC Chair Sides with Prediction Markets

Prediction market platforms operate exchanges that allow customers to bet on the outcome of a wide range of future events, from presidential elections to college basketball games. The CFTC said recently it would craft new rules for the multi-billion dollar industry. Its chair Mike Selig over the past week has the made the case on why the commission should regulate prediction markets, including on Tuesday, when he said the CFTC filed a friend-of-the-court brief in cases regarding states seeking to block prediction markets. Bloomberg Intelligence’s Nathan Dean reports on “Bloomberg Crypto.” (Source: Bloomberg)