Crypto
U.S. senators press to stop CFTC encroachment on state oversight of prediction markets
Seventeen Democratic U.S. senators asked the Senate to prevent the Commodity Futures Trading Commission from using federal funds for lawsuits involving prediction markets. They urged appropriators to block spending on litigation against state gaming regulators. The lawmakers said Chairman Michael Selig is asserting exclusive CFTC authority and infringing on state powers by treating event contracts as swaps. They warned the approach could let online prediction markets bypass state consumer protection and oversight.
