CFTC chair attacks state action against prediction markets
Michael Selig says states are trying to lock up founders and CEOs of federally overseen platforms.
Confirmed
- CFTC Chair Michael Selig accused states of trying to lock up prediction market founders and CEOs
Not yet known
- Whether prediction market contracts are gambling or derivatives, which Selig says should be settled on the merits
What we know
The Block reports that CFTC Chair Michael Selig accused states of trying to lock up founders and CEOs of prediction market platforms operating under federal oversight, saying whether contracts are gambling or derivatives should be hashed out on the merits.
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Sources
@TheBlockCo
“essentially trying to lock up founders and CEOs”
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