Former SEC Chair Jay Clayton on regulating prediction markets

Let's all recognize that we're not talking about um what I would say is investment banks uh end users um and sophisticated liquidity providers facing off against each other. We're talking about people who are you know retail players and we ought to recognize that we regulate retail markets different from institutional markets and that is the that is the question right now. How how do we how do we how do we deal with this retail participation in these types of markets. ...