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President Biden Announces Decision to Not Seek Reelection (Copy of Letter)

By Kevin Reynolds
Updated Jul 21, 2024, 6:51 p.m. Published Jul 21, 2024, 6:39 p.m.
The first portrait of Joe Biden as president of the United States. (The White House)
The first portrait of Joe Biden as president of the United States. (The White House)

The following is a copy of the announcement made today by President Biden that he will not seek reelection:

President Biden's Announcement of Intent to Not Seek Reelection
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CFTC's Selig opens legal dispute against states getting in way of prediction markets

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U.S. Commodity Futures Trading Commission Chairman Mike Selig (Jesse Hamilton/CoinDesk)

Commodity Futures Trading Commission Chairman Mike Selig fired a legal warning shot defending his agency's jurisdiction over the event contract space.

What to know:

  • U.S. Commodity Futures Trading Commission Chairman Mike Selig directed his agency to file an amicus brief declaring his federal agency has authority over the U.S. prediction markets.
  • Though the CFTC once fought a legal resistance against such firms as Polymarket and Kalshi, the agency has embraced them during the administration of President Donald Trump, whose son has worked as a paid adviser for the leading companies.
  • As Selig defends his agency's jurisdiction in court, he's also pursuing new prediction markets rules for the U.S.
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