The Commodity Futures Trading Commission is asserting exclusive regulatory authority over so-called “prediction market’ wagering platforms, which it says fall under the jurisdiction of derivatives traded on federally regulated exchanges.
MANHATTAN (CN) — The Commodity Futures Trading Commission on Friday brought a civil lawsuit against the State of New York over the state’s efforts to regulate online prediction markets like Kalshi and Coinbase, where people can make prediction-based trades on the outcome of real-world events like sports and elections.
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