It appears that the U.S. Senate is having buyer’s remorse. Or at least buyer’s concern.
Senate Agriculture Chair John Boozman [R-Arkansas] Wednesday called prediction markets the “wild west” in an interview with Semafor. He said his committee would be meeting with new Commodity Futures Trading Commission (CFTC) Chair Michael Selig, who oversees what has become a divisive force in the gambling world.
“This is an area that just caught fire; I don’t think anybody expected it to grow at the rate that it has,” Boozman said. “But there is concern; it’s the Wild West. There’s not much regulation.”
Those in the gambling industry are likely lauding Boozman’s comments.
