#PredictionMarketsCFTCBacking $BTC $PUMP $OM

Here is the latest update on Prediction Markets and CFTC backing:

The Commodity Futures Trading Commission (CFTC) is actively asserting federal jurisdiction over prediction markets, which are rapidly growing platforms like Kalshi and Polymarket. Recently, the CFTC, under Chair Michael Selig, has taken legal steps to reassert its regulatory control, pushing back against state gambling regulators who are trying to impose their own rules. This includes submitting briefs to federal appeals courts supporting prediction market platforms, emphasizing that these markets should be federally regulated rather than governed by individual states. The ongoing legal battles could significantly shape the future oversight and regulatory framework of prediction markets in the U.S.

In summary:

- CFTC claims exclusive federal authority over prediction markets.

- Legal actions are underway to clarify regulatory control.

- The CFTC supports prediction markets against state-level restrictions.

- Chair Michael Selig is leading efforts to protect these markets under federal law.

- The outcome will impact how prediction markets operate and are regulated nationwide.

#PredictionMarkets #CFTC #RegulationUpdate #FederalAuthority