CFTC’s Selig says states trying to jail prediction market founders over gambling dispute
AI summary
CFTC Chairman Michael Selig accused state regulators of trying to 'lock up' founders of prediction markets, arguing that disputes over whether event contracts count as gambling should not expose executives to jail time. The remarks signal a widening federal-versus-state fight over prediction market regulation, a sector that touches crypto-adjacent event contracts. Traders in event and prediction markets should watch for how this jurisdictional conflict develops, since state enforcement could shape access and legal risk for platforms.
