CFTC Warns of Prediction Market Collapse, Seeks Regulation
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Commodity Futures Trading Commission Chairman Michael Selig warns of potential FTX-style collapses in prediction markets due to lack of federal rules. Platforms like Kalshi and Polymarket, handling billions in monthly volume, face accusations of insider trading and legal challenges. Selig advocates for collaboration to establish fair, safe rules for these markets, teaming up with the SEC to form an Innovation Task Force.
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