CFTC defers to leagues on prediction market rules

The Commodity Futures Trading Commission (CFTC) has announced it will defer to major sports leagues regarding the regulation of prediction markets. This decision means the leagues will have significant influence in determining which types of prediction market contracts are most susceptible to manipulation. The NFL, in particular, has been vocal about its concerns and has called for stricter guardrails to be implemented. This move signals a collaborative approach between regulators and sports organizations to address potential risks within these emerging financial platforms.