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U.S. CFTC consults major pro sports leagues to crack down on prediction markets

The U.S. Commodity Futures Trading Commission is consulting major U.S. professional sports leagues to strengthen oversight of sports-related prediction markets. Chairman Mike Selig said the agency signed a memorandum of understanding with Major League Baseball and is in talks with all pro leagues. The CFTC is widening cooperation to monitor insider trading and price manipulation linked to sports event contracts, amid prediction markets expanding into sports and jurisdiction disputes with state gaming regulators.