Top lawmakers on the House Agriculture Committee signaled broad concern over the policy of prediction markets in the United States during an oversight hearing with Commodity Futures Trading Commission Chair Mike Selig Thursday morning.
Chair Glenn Thompson (R-Pa.) said prediction markets ushered in “an innovative new class of financial derivatives.” But the Pennsylvania Republican also warned the sector had “spawned significant confusion and debate about the role in the authority of the commission.”
Rep. Angie Craig (Minn.), the panel’s top Democrat, spoke at some length about prediction markets in her opening statement.
