Michael Selig, Chairman of the Commodity Futures Trading Commission, said that federal market integrity would be undermined if states are allowed to impose their own rules on prediction market operators.
Selig made the statement at the Flyover Fintech conference in Lincoln, Nebraska, alongside congressman Mike Flood. He argued that fragmented state-level regulation creates risks for a unified federal approach to oversight of such markets.
Prediction market regulation remains a sensitive issue for the gambling industry and fintech sector, as some products sit at the intersection of derivatives, betting and event contracts.
