The former regulator joined a number of interest groups in arguing that prediction markets are overstepping their bounds by offering sports-related contracts. Former CFTC and SEC Chair Gary Gensler filed an amicus brief to an appeals court arguing that federal law does not give his former agency — the CFTC — authority to oversee prediction markets tied to sports. A number of other entities similarly filed friend-of-the-court briefs arguing that sports-related prediction markets infringe on stat…
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