Six senators question CFTC oversight of sports event contracts
Six US senators from five states sent a letter to acting CFTC Chair Caroline Pham challenging the agency’s oversight of sports event contracts offered by platforms including Kalshi and Robinhood. They argue the contracts amount to sports betting and asked the CFTC to answer 11 questions by 30 October, including how it distinguishes betting from event contracts.
The senators’ challenge could affect whether event-contract platforms face state and tribal sports-betting safeguards.