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Updated 8 hours ago - .icon+span]:ml-2 [&>span+.icon]:ml-2 gtmContentClick !inline ml-0.5 hover:underline focus:underline" data-vars-content-id="c9aab4e7-08e9-4b71-9c95-150547508167" data-vars-headline="Feds move to formally allow sports "trading" on prediction markets" data-vars-category="story" data-vars-sub-category="story" data-vars-item="topic" data-vars-label="Business" data-vars-deprecated-params="[object Object]" data-vars-click-url="https://www.axios.com/business" href="https://www.axios.com/business">Business

Feds move to formally allow sports "trading" on prediction markets

.icon+span]:ml-2 [&>span+.icon]:ml-2 gtmContentClick" data-vars-content-id="c9aab4e7-08e9-4b71-9c95-150547508167" data-vars-headline="Feds move to formally allow sports "trading" on prediction markets" data-vars-category="story" data-vars-sub-category="story" data-vars-label="Nathan Bomey" data-vars-click-url="https://www.axios.com/authors/nbomey" href="https://www.axios.com/authors/nbomey">Nathan Bomey

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Michael Selig, chair of the Commodity Futures Trading Commission, speaks during the D.C. Blockchain Summit in Washington, D.C., on March 17. Photo: Al Drago/Bloomberg via Getty Images<br>*:last-child]:mb-0 [&_h2]:mt-8 [&_h2]:mb-4 [&_h2]:h-editorial-030 [&_p]:break-words [&_p]:my-4 [&_p]:text-p sm:[&_p]:my-6 [&_ul]:my-4 [&_ul]:text-p sm:[&_ul]:my-6 [&_ol]:my-4 [&_ol]:text-p sm:[&_ol]:my-6 [&_p:last-of-type]:pb-0 [&_p:last-of-type]:mb-0 [&_a]:underline [&_a]:text-interactive-tertiary [&_a:active]:no-underline [&_a:hover]:no-underline [&_a:visited]:text-interactive-tertiary [&_figure]:my-6 sm:[&_figure]:my-10 [&_figure_figcaption]:mt-2 [&_figure_figcaption]:font-sans [&_figure_figcaption]:leading-6 [&_figure_figcaption]:text-caption sm:[&_figure_figcaption]:mt-3 [&_figure_figcaption],[&_figure_figcaption_a],[&_figure_figcaption_a:visited]:[&_figure_figcaption]:text-soft-black-shade [&_figure_figcaption_a],[&_figure_figcaption_a:visited]:font-sans [&_figure_figcaption_a]:underline [&_figure>img]:w-full [&_blockquote:not(.instagram-media)]:pb-2 [&_blockquote:not(.instagram-media)]:pl-8 [&_blockquote:not(.instagram-media)]:mt-6 [&_blockquote:not(.instagram-media)]:mb-0 [&_blockquote:not(.instagram-media)]:italic [&_blockquote:not(.instagram-media)]:border-l [&_blockquote:not(.instagram-media)]:border-solid [&_blockquote:not(.instagram-media)]:border-accent-blue-tint sm:[&_blockquote:not(.instagram-media)]:mt-10 sm:[&_blockquote:not(.instagram-media)]:pb-6 [&_blockquote:not(.instagram-media)]:text-p [&_blockquote:not(.instagram-media)]:margin-inline-start-0 [&_blockquote:not(.instagram-media)]:margin-inline-end-0 [&_blockquote+*]:mt-6 sm:[&_blockquote+*]:mt-10 [&_blockquote+cite]:inline-block [&_blockquote+cite]:pt-0 [&_blockquote+cite]:mt-0 [&_blockquote+cite]:text-p [&_blockquote+cite::before]:text-base sm:[&_blockquote+cite::before]:text-caption [&_blockquote+cite::before]:content-[""] [&_blockquote+blockquote]:pt-8 sm:[&_blockquote+blockquote]:pt-6 [&_blockquote+blockquote]:-mt-8 sm:[&_blockquote+blockquote]:-mt-12 [&_cite]:pl-8 [&_cite]:border-l [&_cite]:border-solid [&_cite]:text-soft-black-shade [&_cite]:border-accent-blue-tint [&_cite]:text-p [&_cite+*]:mt-6 sm:[&_cite+*]:mt-10 [&_strong]:font-bold [&_u]:no-underline [&_ol]:pl-0 [&_ol]:list-decimal [&_ol]:list-inside [&_ul]:list-image-bullet-filled [&_ul]:pt-0 [&_ul]:pr-0 [&_ul]:pb-0 [&_ul]:pl-4.5 [&_ul_li]:pl-2 [&_ul_li:not(:last-of-type)]:mb-3 [&_ul_ul]:list-image-bullet-outlined [&_ul_li]:mt-4 sm:[&_ul_li]:mt-6 [&_ol_li]:mt-4 sm:[&_ol_li]:mt-6 [&_.iframe-responsive-wrapper]:pb-[56.25%] [&_.iframe-responsive-wrapper]:relative [&_.iframe-responsive-wrapper]:overflow-hidden [&_.iframe-responsive-wrapper_iframe]:h-full [&_.iframe-responsive-wrapper_iframe]:left-0 [&_.iframe-responsive-wrapper_iframe]:absolute [&_.iframe-responsive-wrapper_iframe]:top-0 [&_.iframe-responsive-wrapper_iframe]:w-full [&_.iframe-responsive-wrapper:has(>iframe[src*="documentcloud.org"])]:pb-[max(56.25%,500px)] [&_iframe[src*="documentcloud.org"]]:border [&_iframe[src*="documentcloud.org"]]:border-[#aaa] [&_iframe[id*="datawrapper-chart"]]:border-none [&_iframe[id*="datawrapper-chart"]]:min-w-full [&_iframe[id*="datawrapper-chart"]]:w-0 xl:[&_iframe[id*="datawrapper-chart"]]:min-h-[465px] [&_img[src$="giphy.gif"]]:mx-auto [&_.twitter-tweet]:mx-auto [&_.instagram-wrapper]:flex [&_.instagram-wrapper]:justify-center [&_.axios-visual-newsletter-fallback-image]:hidden sm:[&_.axios-visual-newsletter-fallback-image]:block...