The CFTC has proposed banning prediction market platforms from betting on the outcome of political campaigns
2024-05-10 16:41:41
The US Commodity Futures Trading Commission (CFTC) proposed in a vote on Friday to formally reject event contracts that bet on the outcome of political campaigns. PredictIt, Polymarket, Zeitgeist, and Kalshi, among other prediction platforms, now offer users the ability to purchase contract services related to actual event outcomes, including elections and policy making. It is reported that three of the five commissioners of the US Commodity Futures Trading Commission have approved the proposed rule, and the public will now have 60 days to comment on the potential rule.
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