A new proposal from the Commodity Futures Trading Commission on regulating prediction markets is under review by the White House, according to a filing published this week.
The filing, first reported by Bloomberg, showed that the proposal is under review by the Office of Management and Budget, though details of the plan were not disclosed.
In January, Michael Selig, Chairman of the Commodity Futures Trading Commission, said the agency planned to develop new rules for prediction markets after withdrawing a proposed rule that would have banned contracts tied to sports and political events.
The regulator has repeatedly argued in court filings and public statements that it holds exclusive authority to regulate prediction markets rather than individual states.
