The U.S. Commodity Futures Trading Commission (CFTC) has proposed to ban trading in event contracts that bet on the outcome of political events among U.S. regulated companies. The proposal concerns contracts on the outcomes of political contests, award competitions, and games, with the goal of formally disallowing trading in such contracts. Currently, prediction platforms such as PREDICTIT, POLYMARKET, ZEITGEIST, and KALSHI offer services for buying contracts on the outcomes of actual events, including elections and policymaking. In a vote on Friday, three of the CFTC's five commissioners approved the proposed rule. The public now has 60 days to comment on the potential rule.

The U.S. Commodity Futures Trading Commission (CFTC) proposed in a vote on Friday to formally reject event contracts for betting on the outcomes of political events. Under the proposal, contracts for the outcomes of political contests, award contests, and games would be banned from trading in U.S. regulated companies. Currently, prediction platforms such as PredictIt, Polymarket, Zeitgeist, and Kalshi offer users the ability to purchase contracts on the outcomes of actual events, including elections and policy making. Three of the five commissioners 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)

U.S. CFTC proposes ban on trading event contracts that bet on outcomes of political events