CFTC rulebook ๐Ÿ“•

The CFTC is launching a two-pronged approach to creating a regulatory framework for the prediction market industry.

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๐Ÿ“ What you need to know

The U.S. Commodity Futures Trading Commission launched a two-pronged regulatory push into prediction markets Thursday, moves Chairman Michael Selig framed as the agency finally stepping up after years of inaction.

One of them was a letter offering guidance to registered firms and the other was a heads up that the regulator intends to write some rules. It was also an invitation for the industry to share their thoughts during a 45-day comment period.

"Prediction markets are here to stay, and under my leadership, I'll protect the agency's jurisdiction over these markets and allow them to flourish in the U.S.," Selig posted on X.

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โ€œWhy donโ€™t they just tokenize the oil in the Middle East and transport it across permissionless financial rails, thereby avoiding the Strait of Hormuz altogetherโ€


โ€” @GwartyGwart on X

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