Posted 3/12/2024, 2:26:00 PM
CFTC to Propose New Rules for Prediction Markets After Legal Battles
- CFTC chairman says agency will propose new rules to regulate prediction markets
- Comes after years of legal battles with platforms like PredictIt, Polymarket, Zeitgeist, and Kalshi
- New rules aim to provide regulatory clarity for prediction market exchanges and participants
- CFTC struggled with how to handle crypto innovation and derivatives platforms like LedgerX
- Chairman emphasized need for customer protections, market stability, resilience, and level playing field