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SEC coordinates with CFTC on prediction markets oversight

Regulation

SEC Chairman Paul Atkins told a Senate Banking Committee hearing that the SEC and CFTC are discussing oversight of prediction markets. He said the agencies meet weekly and that the products currently sit mostly within the CFTC’s remit, while overlapping jurisdiction may arise; he did not commit to new rulemaking.

Operators and market participants face potential uncertainty where SEC and CFTC jurisdiction over prediction-market contracts overlaps.

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Regulation

Kalshi CEO says state oversight would push prediction markets offshore

Kalshi chief executive Tarek Mansour said state regulation of prediction markets would drive the industry out of the US rather than resolve the state-versus-federal dispute. Speaking at DC Fintech Week, he said the choice is whether prediction markets exist in the US or go offshore, and defended Kalshi's sports-event contracts as federally regulated financial contracts.

Kalshi chief executive Tarek Mansour warned that letting individual states oversee prediction markets would drive the sector abroad instead of resolving the tug-of-war between state and federal authorities, according to reporting by Complete iGaming. At DC Fintech Week, he framed the matter as a binary: either such markets operate inside the US or they relocate overseas.

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