Better Markets criticises CFTC oversight of prediction markets
Better Markets said prediction-market operators offer betting services under the label of event contracts and argued that such activity resembles gambling. The policy group also questioned whether the Commodity Futures Trading Commission has the expertise and resources to oversee nationwide markets, while critics cited in the report dispute whether sports-related event contracts have genuine financial utility.
The group’s criticism adds to debate over whether prediction markets fall under federal or state gambling oversight.