The sole federal regulator over prediction markets says it's easing off

CFTC chairman Michael Selig

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• Michael Selig, chair of the Commodity Futures Exchange Commission, has praised prediction markets.
• He said Thursday his agency would rescind a warning it published last fall about sports contracts.
• Kalshi argues that just the CFTC can regulate its offerings. States claim it's violating gambling laws.

The chairman of the Commodity Futures Trading Commission on Thursday said the agency will rescind its warnings to prediction-market operators ...