Gensler Backs States on Prediction Market Rules

Gary Gensler endorsed state authority in the ongoing battle over prediction market regulation, directly challenging federal dominance in crypto betting platforms. The SEC chair's position aligns with historical patterns in Gary Gensler SEC prediction market regulation history where state-level enforcement often precedes broader rules. This stance intensifies debates on state vs federal oversight of crypto betting platforms, potentially reshaping how platforms handle event contracts tied to assets like BTC.