Eight US Democrats urge CFTC to approve proposed election-betting ban
Eight Democratic members of Congress urged the CFTC on 5 August to approve its proposed rule barring election event contracts. They argued the contracts fall outside the economic purpose of futures markets and that the Commission lacks congressional authority over election activity. The proposal’s comment period was due to close on 8 August.
The lawmakers’ request adds pressure on the CFTC as it considers rules that could bar election contracts offered by prediction markets.