The U.S. Commodity Futures Trading Commission (CFTC) has proposed a ban on prediction market platforms from betting on the results of political events, including elections and policy making. The proposal was passed in a vote on Friday, and platforms such as PREDICTIT, POLYMARKET, ZEITGEIST and KALSHI currently provide related services. The rule was approved by three of the five CFTC commissioners, and the public now has 60 days to comment on the potential rule.

Odaily Planet Daily News: The U.S. Commodity Futures Trading Commission (CFTC) proposed in a vote on Friday to formally reject event contracts that bet on the results of political activities. Currently, prediction platforms such as PredictIt, Polymarket, Zeitgeist and Kalshi provide users with the service of purchasing contracts about the results of actual events, including elections and policy making. It is reported that three of the five members of the U.S. Commodity Futures Trading Commission approved the proposed rules, and the public will now have 60 days to comment on the potential rules. (Coindesk)

US CFTC proposes to ban prediction market platforms from betting on political events