00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The White House is reviewing a CFTC proposal to regulate prediction markets such as Calci
00:08and Polymarket, a Tuesday filing with the Office of Management and Budget Shows,
00:13according to CNBC. CFTC Chairman Michael Selig said,
00:18In January, the agency planned to write rules for the sector after scrapping a proposed ban
00:23on sports and politics contracts. President Trump posted Tuesday that maintaining the CFTC's
00:29exclusive authority over prediction markets is critically important. The New York Times
00:34reported that three companies with ties to the Trump family, of course, Crypto.com,
00:39Polymarket, and Gemini Titan, sought and received favorable treatment from the CFTC for their
00:45prediction market ambitions. Former CFTC Chairman Gary Gensler said, Wednesday, the agency lacks
00:51authority under the 2010 Dodd-Frank Act to regulate prediction markets and predicted the jurisdictional
00:57dispute will reach the Supreme Court. For all things money, visit Benzinga.com.
Comments