CFTC Chief Regulates Prediction Markets Alone
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Show Notes
Michael Selig, the sole chair of the US Commodity Futures Trading Commission, is pushing to regulate prediction markets like Kalshi and Polymarket. Hes labeling their event contracts as financial assets and seeking public input on federal laws application to these platforms. Despite state lawsuits accusing these companies of unlicensed sports betting, Selig plans to challenge any state interference in court. However, an Ohio judge recently rejected Kalshis request for an injunction against state gaming officials, ruling that federal laws do not automatically override state gambling rules. The proposed rule is set to be published in the Federal Register soon, with a 45-day public comment period before any final decision, which could significantly impact millions of users of these innovative markets.
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