Any Bets on Who Will Regulate Prediction Markets?

May 20, 2026  |  The Review of Securities & Commodities Regulation

In their latest article, Morvillo Abramowitz Grand Iason & Anello partners Brian Jacobs and Tom McKay, along with associate Jessica Salley, examine the rapid rise of prediction markets, and the unresolved legal battles over who should regulate them and how. The proliferation of sports betting on these markets has raised a simmering dispute between the CFTC and state gambling regulators. And high-profile examples of insiders betting on world events has caused an urgent conversation about the application of traditional insider trading principles to these markets. This article surveys the current debate and offers some predictions about how these markets will be regulated. 

Any Bets on Who Will Regulate Prediction Markets?