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Michael Selig, chair of the Commodity Futures Trading Commission, speaks during the D.C. Blockchain Summit in Washington, D.C., on March 17. Photo: Al Drago/Bloomberg via Getty Images
A federal commission moved Wednesday to formalize rules allowing prediction markets to offer the equivalent of sports betting nationwide — with some specific types of trades disallowed.
Why it matters: Prediction markets like Kalshi and Polymarket have been surging in popularity, allowing users to risk money on sports, politics, news, financial markets and entertainment.
