CFTC chair directs staff to withdraw event-contract guidance and draft new rules

Regulationjust now

Commodity Futures Trading Commission Chair Michael Selig said he had directed staff to withdraw a 2024 proposed rule on event contracts and a 2025 advisory concerning sports-related contracts. Selig also directed staff to prepare updated rules for event contracts, including those related to sports and politics. The report said the agency’s approach comes amid legal challenges by state authorities and gaming regulators against prediction-market platforms.

The planned rulemaking could affect the federal framework for prediction-market contracts involving sports and politics.

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Regulationjust now

CFTC chair signals prediction markets guidance may arrive soon

Commodity Futures Trading Commission chair Michael Selig said guidance on prediction markets could be issued in the near future, according to the report. He argued that the products fall under federal rather than state oversight and said the CFTC should not adopt a prohibitionist or excessive-regulation approach.

CFTC chair directs staff to withdraw event-contract guidance and draft new rules

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Keep reading

CFTC chair signals prediction markets guidance may arrive soon

IGA chair discusses tribal concerns over prediction market event contracts

Two prediction-market operators sue Missouri over sports event contract rules

Underdog sues Connecticut officials over sports-event contract restrictions

Ninth Circuit backs California tribes in Kalshi event-contract dispute