Svmuu News: Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency is engaging with all major U.S. professional sports leagues to strengthen the regulatory framework for sports-related prediction markets and guard against the risks of insider trading and market manipulation. Speaking at FINRA’s annual conference in Washington, Michael Selig revealed that the CFTC had previously signed a memorandum of understanding on information sharing with Major League Baseball (MLB), marking the first time the agency has established a formal data-sharing mechanism with a professional sports league. This move comes as prediction market platforms (such as Kalshi and Polymarket) continue to expand their sports contract businesses, sparking legal disputes between state-level gambling regulators and federal regulatory authorities. (CoinDesk)