CFTC says prediction markets operate within current law
CFTC acting chair Caroline Pham indicated that prediction markets operating through designated contract markets are acting within current law, the report said. In a response to senators, the agency said designated contract markets must meet 23 principles under the Commodity Exchange Act, while Pham said investigations remain confidential and the CFTC has no enforcement authority under the Federal Wire Act.
Prediction-market operators can assess federal oversight against the CFTC’s stated requirements and limits on its enforcement authority.