INTRO: The Commodity Futures Trading Commission is considering a rules change that will treat prediction market trades as financial swaps…C-F-T-C Chair Michael Selig (SEE-ligg) tells Fox Business’ “The Claman Countdown,” says those types of trade belong to the derivatives markets.. which puts the issue under his agency’s purview.
ACK: CFTC Chair Michael Selig
***MANDATORY CREDIT: “The Claman Countdown” on Fox Business Network***
TAG: The N-F-L asked the Supreme Court in a brief last week to let states regulate prediction markets as a form of gambling. 39 state attorneys general joined New Jersey’s bid to overturn an appeals court ruling that put regulation in the hands of the federal government. Kalshi’s C-E-O warns a change in policy could drive companies out of the country.
KEYWORD: Politics, Legal, Crime, Business, Economy
