CFTC Gets Mixed Responses to Prediction Market Rulemaking
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The CFTC received over 1,500 public comments regarding proposed regulations for prediction markets, highlighting deep divisions between industry supporters and state regulators.Summary
The US Commodity Futures Trading Commission (CFTC) has concluded a public comment period on proposed rules for prediction market event contracts, receiving over 1,500 responses. Industry players like Kalshi, Polymarket, and venture firm Andreessen Horowitz support the CFTC’s assertion of exclusive federal jurisdiction, arguing that state-level interference hinders market access. Conversely, state gambling regulators from Tennessee, Missouri, and Pennsylvania strongly oppose this, claiming these platforms are effectively unregulated sportsbooks that fall outside CFTC authority. Additionally, consumer advocacy groups like Better Markets have urged the regulator to ban contracts tied to elections and geopolitical events, citing concerns over insider trading and potential influence on government actions.
(Source：Cointelegraph)