An exchange CLO: A hearing will be held next week regarding Nevada's blocking of the launch of prediction market contracts.
The Chief Legal Officer of an exchange, Paul Grewal, stated on the X platform that the U.S. Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over the launch of related prediction market contracts. The latest news is that a hearing in the Nevada federal court has been scheduled for next week, and he also expressed gratitude for the handling of the matter by the relevant court.
Paul Grewal previously stated that Nevada regulators attempted to unilaterally prevent the launch of any prediction market event contracts without giving an exchange an opportunity to defend itself, while due process should at least include the opportunity for a hearing.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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