TechFlow news: On May 3, according to The Information, Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced that the agency is moving to restrict states’ interference in prediction markets, aiming to prevent state-level regulatory measures from hindering—or even stifling—the industry’s development. Reports indicate that Selig is himself a sports enthusiast, with numerous sports memorabilia displayed in his office—a sign of his longstanding interest in sports prediction markets. Since assuming office several months ago, he has moved swiftly on related initiatives, seeking to establish a more permissive federal regulatory environment for prediction markets and enabling broader participation by U.S. users in prediction trading on sporting events and other outcomes.
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