Episode Details

Seventeen Democratic senators are sounding the alarm over the CFTC’s aggressive push to regulate prediction markets, calling it an “assault” on state authority and warning it could unleash a dangerous “race to the bottom” in gambling. The CFTC, led by Commissioner Michael Selig, insists these markets fall under its jurisdiction as “swaps,” sparking legal battles across nine states. While some prediction market firms back the CFTC, senators fear consumer protections are being sidelined. Meanwhile, the Senate prepares to vote on the Digital Asset Market Clarity Act, with gaming groups lobbying to block CFTC oversight of sports contracts — fueling a broader fight over who controls emerging financial markets and how much federal power should override state safeguards.

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