Wall Street Regulators Advance Crypto, Prediction Market Plans

Wall Street’s main regulators are advancing plans to oversee the crypto industry and surging prediction markets with new measures likely to be laced with longstanding implications for broader financial markets.

After months of public statements by regulators and political wrangling in Congress, the Securities and Exchange Commission, which oversees the US Stock Market, and the Commodity Futures Trading Commission, which oversees derivatives trading, have presented plans to the White House. Details are scant, but the bureaucratic step is one of the most meaningful moves yet by the Trump administration market regulators.

Since President Donald Trump took office last ...