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CFTC Proposes Banning Prediction Market From Betting On Political Campaigns

Mary Liu

Summary: The U.S. Commodity Futures Trading Commission (CFTC) proposed in a vote on Friday to formally ban event contracts that bet on the outcome of political campaigns. Currently, prediction platforms such as PredictIt, Polymarket, Zeitgeist, and Kalshi provide users with purchasing contracts on the outcome of actual events, including elections and policy development. Three of the ...

The U.S. Commodity Futures Trading Commission (CFTC) proposed in a vote on Friday to formally ban event contracts that bet on the outcome of political campaigns. Currently, prediction platforms such as PredictIt, Polymarket, Zeitgeist, and Kalshi provide users with purchasing contracts on the outcome of actual events, including elections and policy development.

Three of the five CFTC commissioners approved the proposed rules, and the public will now have 60 days to comment on the potential rules.

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