Michael Selig Backs Prediction Markets Following Nevada Legal Action

Michael Selig and the CFTC filed a federal brief supporting Crypto.com, Kalshi, and Polymarket after Nevada sued the platforms for allegedly operating unlicensed sportsbooks.While state officials argue these prediction markets threaten casino revenue and risk underage gambling, Michael Selig maintains they serve as vital financial tools for hedging risk and verifying news accuracy.The federal commission is asserting its exclusive jurisdiction over these event-based markets and intends to implement new rules to counter state-level legal challenges across the USA.