The US CFTC chairman will limit state-level regulatory interventions that could hinder prediction markets.

CoinFeed reported on May 2nd that, according to The Information, Michael Selig, Chairman of the Commodity Futures Trading Commission (CFTC), is pushing to limit state intervention in prediction markets to prevent state-level regulations from hindering the industry's development. Since taking office several months ago, Selig has quickly begun work to create a more relaxed federal regulatory environment for prediction markets, enabling more U.S. users to participate in betting on the outcomes of sporting events and other activities.