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CFTC Chairman Michael S. Selig is working to establish regulatory discipline in prediction markets, addressing market problems while maintaining support for their development. Partner Carl Kennedy discusses how Selig's regulatory approach aims to bring order to these emerging financial instruments within the CFTC's authority.
In an article about Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig's support for the future of prediction markets, POLITICO spoke with Partner and Co-Chair of Financial Markets and Regulation Carl Kennedy to get his thoughts. Carl noted that Chairman Selig's efforts to establish prediction market regulations is within the CFTC's purview.
Carl stated, "He's trying to build a lot of discipline into these markets. He's seeing the same problems, and he's trying to address it — I think, while being supportive, in a way that's bringing order."
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