CFTC Chair Mike Selig argues for agency's 'exclusive regulatory authority' in prediction markets fight: State of Crypto

Burns Brief

Selig said states do not have the ability to police prediction market providers, echoing his agency's stance as it pursues court cases to cement its authority Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.