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The Latest Breaking News from Michael Selig

Prediction market betting may influence arson as several states see unprecedented wildfires, Senators warn

Democratic lawmakers are sounding the alarm over betting on natural disasters, arguing that it both increases the risk of criminal activity and is morally wrong

The Independent UK

New York sues to shut down Kalshi, seeks $100,000 for each unauthorized bet

The state claims Kalshi is an unlicensed sportsbook, while the prediction market says New York has no authority since it is regulated by a federal agency.

Fortune

Crypto Bill Fight Moves Back To The Senate As White House Rejects Claims It Is Refusing To Make Nominations For Key Appointments

The White House pushed back Thursday against claims that it has refused to nominate Democratic commissioners to key financial regulators, adding another dispute to the debate over U.S. cryptocurrency rules as the Senate prepares to return from recess.

International Business Times

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Donald Trump Faces 'Grift' Accusations: POTUS Allegedly Dismantled Crypto Oversight to Help Family Business

Donald Trump faces allegations of using presidential power to benefit family business interests in crypto and prediction markets, amid reduced regulatory oversight by the Commodity Futures Trading Commission.

International Business Times UK

Dan Patrick eyes closing “gambling loophole” for prediction markets. The feds stand in Texas’ way.

A Trump administration agency has sued other states that sought to regulate Kalshi, Polymarket and other prediction operations under their gambling laws.

The Texas Tribune

John Oliver on prediction markets: ‘Betting on war is really dark’

The Last Week Tonight host dug into the rapidly expanding, poorly regulated free-for-all of ‘prediction markets’ like Kalshi and Polymarket

The Guardian - US

Traders placed over $1bn in perfectly timed bets on the Iran war. What is going on?

Suspicious wagers on the US-Israel war in Iran are creating huge windfalls and raising concerns among lawmakers

The Guardian - US

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Betting against political prediction markets

The rise of political prediction markets and several well-timed trades have spurred lawmakers to introduce multiple bills aimed at stopping or regulating insider trading in prediction markets. But lawmakers are far from agreeing on how far to extend such bans. “Members of Congress should be prohibited from participating in prediction…

Roll Call

CFTC bucks trend, seeks more money from Congress and proposes fees

In a time of budget austerity for most Trump administration agencies, the Commodity Futures Trading Commission stands apart as a regulator that is asking Congress for more money. The CFTC is requesting $410 million for fiscal 2027, an increase of $45 million, or 12 percent, from its enacted fiscal 2026 level.…

Roll Call

Lawmakers seek to boost CFTC budget to take on crypto oversight

Lawmakers seek to boost CFTC budget to take on crypto oversight - Fintech

Roll Call

Trump administration backs Kalshi, Polymarket as states move to ban prediction markets

The Trump administration has backed Kalshi and Polymarket in a court fight over whether prediction markets constitute gambling

The Independent UK

Senate Agriculture advances Selig to lead CFTC - Roll Call

The Senate Agriculture Committee recommended Michael Selig for confirmation to lead the CFTC as lawmakers expand the agency jurisdiction.

Roll Call

Senate Agriculture plans Thursday vote on CFTC nominee - Roll Call

Senate Agriculture is poised to move quickly on CFTC chair nominee MIchael Selig, scheduling a vote the day after his hearing on Wednesday.

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