00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Commodity Futures Trading Commission will propose new rules on Wednesday to govern prediction
00:07markets, seeking authority to block wagers deemed not in the public interest or vulnerable to
00:12manipulation, according to the Wall Street Journal. The proposal does not ban specific
00:17contract types outright, but establishes factors regulators will use to review contracts case by
00:22case. Likely prohibited bets include those on player injuries, first pitch gambling,
00:26and virtually all wagers tied to war, terrorism or assassinations.
00:31The agency's Trump-appointed chair, Michael Selig, has steered the CFTC toward broadly permitting
00:37prediction platforms, and officials say the intent is to allow most sports-related betting to continue.
00:43Calci and other platforms have already begun adjusting to anticipated regulations,
00:47including plans to require some users to disclose their employers.
00:50For all things money, visit Benzinga.com.
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