SectorWire
SearchRegister
MenuClose

CFTC proposes prediction-market rules defining gaming and addressing sports contracts

Regulation

The CFTC has published proposed rules for event contracts in the United States, setting out how it would define gaming and determine whether contracts involve it. The proposal says sports contracts based on outcomes such as scores, results and player or team statistics would weigh against finding a market contrary to the public interest; the rules remain subject to review before possible implementation.

The proposal could shape how prediction-market operators assess sports and gaming event contracts under federal oversight.

Request a correction

Flag an issue

Keep reading

Regulation

Prediction market operators withdraw sports contracts across three US states

Coinbase agreed to end Michigan sports contract activity by 10 October. The agreement requires Coinbase to close outstanding positions while its appeal continues. It was also reported that Webull, Gemini and ProphetX exited Connecticut, while PrizePicks paused new sports prediction entries in Missouri but kept existing entries active.

Under a deal announced Wednesday, Coinbase will halt new sports event contracts in Michigan by Oct. 10, with every open position to be wound down by that date as well, the Michigan Gaming Control Board said in a press release. While the appeal proceeds, the company keeps its legal arguments intact, and Michigan pledged to hold off on enforcement so long as Coinbase stays within the restrictions.

Continue reading