Selig's Embrace of Prediction Markets Draws Fire From House Democrats

Also, SEC solicits comments on CAT; options market structure debated; Atkins launches podcast

The CFTC’s aggressive assertion of authority over prediction markets dominated Mike Selig’s first appearance before the House Agriculture Committee, as Democrats blasted him for embracing event contracts that allow retail traders to wager on sports and geopolitics. The attacks, though unsurprising, made for a long and often contentious day for the chair…