BlockBeats News, May 21st, Bloomberg's Senior ETF Analyst Eric Balchunas stated that the Chair of the U.S. Securities and Exchange Commission (SEC) is seeking public opinion on the "Prediction Market ETF." The regulatory agency is evidently still considering this new type of product and is looking to receive more time and feedback.

These types of products are essentially new (somewhat similar to crypto assets), and regulators need to ensure they fully understand the risks and mechanisms before giving the green light, thus establishing enough confidence.