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Coalition for Prediction Markets launches campaign backing CFTC oversight

Regulation

The Coalition for Prediction Markets began a campaign supporting federal oversight of prediction markets by the Commodity Futures Trading Commission, starting with a newspaper advertisement on 28 January. The coalition said its members support regulated markets and safeguards against insider trading; the campaign is expected to cost seven figures and run over several months.

The campaign adds an industry group’s position to debate over federal oversight of prediction markets and event contracts.

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Regulation

Gambling Is Not Investing coalition challenges US prediction markets

The Gambling Is Not Investing coalition, launched by Rep. Mick Mulvaney, aims to persuade legislators that prediction markets offer illegal gambling, according to the report. The coalition argues that these products bypass gambling rules and consumer protections; prediction markets dispute that characterisation and cite Commodity Futures Trading Commission oversight. The CFTC is considering how to regulate the platforms, while its chair has threatened court action against challengers to its authority.

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