Michael Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced that the agency is pushing to limit state intervention in the prediction market to prevent state-level regulations from hindering or even stifling the industry's development. Reports indicate that Selig, a sports enthusiast himself, has a large collection of sports memorabilia in his office, a testament to his long-standing focus on the sports prediction market. Since taking office several months ago, he has quickly begun work to create a more relaxed federal regulatory environment for the prediction market, enabling more U.S. users to participate in prediction trading of sporting events and other outcomes. (The Information)