PANews reported on March 31 that, according to The Block, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission, stated that the agency will "PANews reported on March 31 that, according to The Block, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission, stated that the agency will "
The US CFTC stated that it will "respect the opinions of all sports leagues," following the NFL's call for stronger regulation of the prediction market.
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PANews reported on March 31 that, according to The Block, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission, stated that the agency will "largely respect the opinions of sports leagues" when assessing which prediction market contracts are susceptible to manipulation. Previously, the National Football League (NFL) sent letters to prediction market platforms such as Kalshi and Polymarket, demanding that they cease offering contracts for single-game results, drafts, injuries, and other easily manipulated or pre-determined information, arguing that such contracts could induce manipulation.
On the legislative front, lawmakers from both parties have introduced bills to ban federally regulated prediction markets from listing sports-related contracts, and several states have also challenged the legality of such platforms through legal means. Meanwhile, Major League Baseball has opted for a partnership, signing an information-sharing agreement with Polymarket.
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