CFTC Embraces Prediction Markets, New Rules Ahead
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Show Notes
The Commodity Futures Trading Commission (CFTC) has announced new guidance and proposed a permanent rule for prediction market platforms like Polymarket and Kalshi. This marks a significant shift in the CFTCs approach to these markets, now viewing them as a reliable source of information for various industries. Chairman Mike Selig has initiated this change, despite ongoing disputes with state regulators over sports betting authority. The CFTC has issued a non-binding advisory for regulated markets and started a formal rulemaking process. The advisory outlines steps for firms to get trading products approved and emphasizes the importance of preventing manipulation. A forty-five-day comment period is open, and applications to become designated contract markets have surged, primarily from prediction market hopefuls.
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