Major League Baseball (MLB) has teamed up with the US Commodity Futures Trading Commission (CFTC) in a new effort to keep a close watch on the booming world of sports prediction markets, according to a release from the federal agency. The arrangement is a formal memorandum of understanding that sets up how the league and the CFTC will work together. The two sides plan to monitor trading activity, exchange information, and look for any signs of manipulation tied to baseball-related event contracts. The CFTC says the goal is to “protect the integrity and resilience of prediction markets” while guarding against “fraud, manipulation, and other abuses.” Today the @CFTC and @MLB made history by signing the first-ever MOU between a sports league and federal agency. We’ve committed to work together to protect the integrity and resilience of prediction markets relating to professional baseball.…