CFTC Engages with U.S. Sports Leagues on Prediction Markets

CFTC Chairman Mike Selig announced that the agency is in discussions with all major U.S. professional sports leagues to oversee sports-related prediction markets. According to NS3.AI, Selig highlighted that the CFTC's memorandum of understanding with Major League Baseball in March marked its first formal information-sharing agreement with a professional sports organization. Additionally, Selig mentioned that the agency has initiated legal action against approximately five or six states for attempting to obstruct federally regulated event contracts.