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Story summary
- The Commodity Futures Trading Commission (CFTC), led by Chairman Michael Selig, aims to make the United States the hub for prediction markets.
- Selig says a regulatory framework must balance innovation with protections against insider trading.
- The CFTC investigates market participants and has filed lawsuits against states regulating prediction markets as gambling.
- The agency is incorporating public feedback and argues clear rules will curb offshore moves.
