CFTC Claims Exclusive Rights Over Prediction Markets
The CFTC has filed a brief asserting its control over prediction markets, claiming states cannot regulate them as gambling, impacting future operations.
The Commodity Futures Trading Commission (CFTC) has filed a new brief with an appeals court, asserting that states lack the authority to regulate prediction markets as forms of gambling. This move intensifies the ongoing legal dispute regarding Kalshi, a platform facilitating sports prediction betting. The CFTC argues that it holds exclusive jurisdiction over event contracts, which has implications for both operators and participants in the prediction market space. The outcome of this case could redefine the regulatory landscape for similar platforms across the United States. Stakeholders are closely watching the developments as they could impact various prediction market operations going forward.
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