Preemption du jour: prediction markets

The Commodity Futures Trading Commission Chair has said that they have exclusive regulation over prediction markets in the face of state legislation. Bonjour, federal preemption. The CFTC has also filed an amicus brief in a case about Nevada Gaming Commission saying that Crypto.com’s prediction market is unlicensed sports betting.

Route Fifty | Feds want to stop states regulating, blocking prediction markets