Gate News reports that on March 12, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Mike Selig, issued a statement stating that today’s action includes the release of clear guidelines for prediction markets to help trading platforms understand CFTC’s expectations for listing new contracts and to take responsibility for ensuring transparent rules for this asset class. In an interview with CNBC, Mike Selig said that prediction markets are a rapidly evolving field, and today’s clear guidelines will help trading platforms understand CFTC’s expectations. Trading platforms will independently certify contracts and have their own rulebooks, and they need clear written guidelines to follow. Additionally, later today, a pre-notice of proposed rulemaking will be issued to establish clear operational rules for this new asset class and market. Ensuring that derivatives markets are free from manipulation, insider trading, and various abuses is very important, and CFTC will take responsibility to ensure that these new asset classes have clear operational rules.
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