By SectorWire desk ·
The report said that the CFTC is asking the White House to approve two proposed rules concerning gambling and prediction markets. The report described the proposals as an effort to secure the commission’s authority over prediction markets.
Prediction market operators face proposed rules intended to secure CFTC authority over their sector.
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The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
Dreitzer’s comments dispute the distinction used to separate sports-event contracts from conventional betting.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The outcome could determine whether prediction market operators can continue serving the US market under federal or state rules.
Kalshi’s proposed rule would allow financial penalties, suspension or account deactivation for users harassing athletes or third parties over trading.