While prediction markets are booming – allowing anyone to bet on nearly everything from sports to elections to who's going to win season 50 of "Survivor" – the little-known federal agency that regulates the industry has shrunk to its smallest size in 15 years.

While prediction markets are booming – allowing anyone to bet on nearly everything from sports to elections to who's going to win season 50 of "Survivor" – the little-known federal agency that regulates the industry has shrunk to its smallest size in 15 years.

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