By Nicola M White, Lydia Beyoud, Bloomberg NewsThe Commodity Futures Trading Commission told prediction markets to avoid using American-style gambling odds as the US regulator fends off legal challenges alleging the platforms are illicit sports betting operations. The CFTC specifically called out as prohibited the use of American-style gambling odds to market a wager. The CFTC is fighting criticism that its embrace of federally-regulated prediction markets has allowed betting to thrive, even in states that ban gambling. Introducing brokers, futures commission merchants, and designated contract markets involved in prediction markets must confirm they’ve received the regulator’s message by Aug. 31, the letter said. Trump in May said it was “critically important” that the CFTC had exclusive authority over prediction markets.