The U.S. Commodity Futures Trading Commission (CFTC) took a firm stance on prediction market regulation, arguing that the markets should fall under federal, not state, oversight.Polymarket.
On Feb. 17, the CFTC filed a "friend-of-the-court" brief in the Ninth U.S. Circuit Court of Appeals in support of Crypto.com amid its fight with the Nevada Gaming Control Board, according to a video statement from CFTC Chairman Mike Selig.
"The CFTC will no longer sit idly by while overzealous state governments undermine the agency’s exclusive jurisdiction over these markets by seeking to establish statewide prohibitions on these exciting products,” Selig said in a statement.
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