The little US financial regulator for corn and cattle is going big on crypto and sports.
The Commodity Futures Trading Commission under Republican Chairman Michael Selig is positioning itself as the top cop of the multitrillion-dollar, Bitcoin-dominated digital asset economy and booming prediction markets. The venues for trading on the outcome of real-world events handle billions of dollars in volume weekly, from predictions on baseball games to the ouster of former Venezuelan President Nicolás Maduro.
The agency has jockeyed with the Securities and Exchange Commission—which is more than six times the CFTC’s size—to oversee crypto ...
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