TechFlow News, May 12: According to CoinDesk, Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated at the FINRA Annual Conference in Washington that the CFTC is engaging with all major U.S. professional sports leagues to monitor insider trading and market manipulation in prediction markets. Previously, the CFTC signed a data-sharing agreement with Major League Baseball (MLB), marking its first formal information-sharing mechanism with a professional sports organization. Meanwhile, the CFTC has filed lawsuits against approximately five or six states attempting to block federal regulation of event contracts, reaffirming that derivatives under CFTC jurisdiction fall within federal authority and are not subject to state gambling laws. Selig also noted that the CFTC is coordinating with the Securities and Exchange Commission (SEC) to review exchange-traded products linked to prediction market strategies and regards prediction market exchanges as the “first line of defense” against violations.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
