<p><img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMTIvMDE5YjAwMzctN2NkNS03N2I5LWJmNGUtYTJjMGFhOTI2MTM3.jpg" alt="CFTC pulls Biden-era proposal to ban sports, political prediction markets" class="type:primaryImage"></p><p>CFTC Chair Mike Selig described the proposal as a “frolic into merit regulation” by the Biden administration.</p>