Prediction markets regulation by CFTC eyed by White House
A proposal for the Commodity Futures Trading Commission to regulate prediction markets such as Kalshi and Polymarket is under review by the White House, a filing from Tuesday shows. Details of the proposal, which are being reviewed by the Office of Management and Budget, are not visible on the filing. CNBC has requested comment from the CFTC on the filing, which Bloomberg reported earlier Wednesday. A spokeswoman for Kalshi had no comment on the filing. Polymarket did not immediately respond to a request for comment. CFTC Chairman Michael Selig on Jan. 29 said the agency planned to write rules for governing prediction markets as he scrapped a proposed rule that would have prohibited trades on sports and politics on those platforms. The Commodity Futures Trading Commission headquarters in Washington, Dec. 23, 2022. Ting Shen | Bloomberg | Getty Images The agency has argued in public statements and in courts that it has exclusive authority to regulate the growing prediction market sector, rather than individual states, some of which are seeking to exercise such authority. Tuesday’s …
