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The US Commodity Futures Trading Commission has withdrawn a Biden administration-era proposal that would have banned sports and political prediction markets, some of the most popular event contracts today.
The recently confirmed CFTC chair, Mike Selig, said on Wednesday that the agency has withdrawn a 2024 notice of proposed rulemaking that sought to ban event contracts for sports, politics and war, among other topics, classifying them as “contrary to the public interest.”
Selig said the proposal…
