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Van Dyke seeks dismissal of CFTC Polymarket trading case

Regulation

Master Sgt. Gannon Ken Van Dyke’s lawyers have asked a court to dismiss the CFTC’s civil case over his alleged Polymarket trades concerning Nicolás Maduro’s removal from power. They argue the event contracts are not swaps under the Commodity Exchange Act and challenge the agency’s anti-fraud rule; the CFTC alleges Van Dyke traded using confidential government information.

The court’s ruling could affect whether federal commodities law applies to the disputed prediction-market contracts.

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Regulation

CFTC gives prediction markets 30 days to address state access blocks

The CFTC issued guidance saying state-based geographic restrictions generally conflict with impartial-access requirements for designated contract markets in the United States. It gave exchanges 30 days to remove conflicting blocks or explain to the Division of Market Oversight, with supporting evidence, why compliance is not feasible. The same framework applies to intermediaries and other entities providing market access.

The CFTC said state-based geographic restrictions on prediction markets are generally inconsistent with its impartial access rules, and gave operators and exchanges 30 days to lift them or explain why they cannot. The agency issued the guidance on Thursday as a formal interpretation of its impartial access requirements for designated contract markets. It said location alone should not be used to deny access to eligible participants within the United States.

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