U.S. CFTC to Establish Rules for Prediction Markets, Guidance to be Published Soon

According to multiple U.S. media reports on March 3rd, Chairman Michael Zelig of the U.S. Commodity Futures Trading Commission (CFTC) stated at the Milken Institute Future of Finance event that guidance on prediction markets will be issued 'in the coming days.' He also announced the initiation of formal rulemaking procedures. Chairman Zelig outlined clear criteria for event contracts that can be self-certified by the market and those that cannot...