U.S. CFTC chairman reiterates exclusive jurisdiction over prediction markets

U.S. CFTC Chairman Michael Selig said in an interview with Fox Business that fraud and market manipulation know no borders, reiterating that this is why the agency has exclusive jurisdiction over prediction markets.

Selig said prediction market platforms are interstate businesses that accept and match buy and sell orders from customers across the United States. He added that Congress gave the CFTC the authority and tools needed to enforce consistent standards across state lines, monitor and crack down on fraud and market manipulation, and protect customer funds.

Source: Coinness