US CFTC Chairman Calls for Drafting Prediction Market Rules Document
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Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that he has requested CFTC staff to draft a rulemaking document regarding prediction markets. He pointed out that the existing CFTC framework has long been difficult to implement and has failed to protect the interests of market participants. He plans to address this issue by establishing clear event contract standards to provide certainty for market participants.
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