Kristen Schwab

But as it stands now, prediction markets fall under different regulations for commodities futures like crops or oil.

It means these platforms can operate in states that don't allow gambling and without the oversight requirements of states that do.

Yesterday, the Federal Commodities Futures Trading Commission announced it's looking at new rules for what should and shouldn't be allowed on prediction markets.

It also issued guidance aimed at preventing manipulation.

Marketplace's Megan McCarty Carino has more.

No one wants to put their money into an entity where, you know, one person already knows the result of what's going to happen and you don't.

How much will the CFTC adapt to regulating products like this more like how sportsbooks are regulated?

Because there's going to be mounting pressure on them to do so.

This final note on the way out today, is it just me or is there so much news these days that we either have to skip this section of the show or use it to talk about a big headline?

I'm going to do the latter.

Today, a federal judge blocked subpoenas against Fed Chair Jerome Powell, subpoenas that Powell says were related to his testimony before the Senate in June about building renovations at the Fed.

In his decision...

The judge wrote that evidence suggests the government served those subpoenas to pressure Powell into lowering interest rates or resigning and that, quote, the government has produced essentially zero evidence to suspect Chair Powell of a crime.

Our theme music was composed by BJ Lederman.

Marketplace's executive producer is Nancy Fargali.

Joanne Griffith is the chief content officer.

Neil Scarborough is the vice president and general manager.

And I'm Kristen Schwab.

Have a great weekend, everyone, and we will be back here on Monday.

This is APM.