Tag

Cftc

All articles tagged with #cftc

finance14 days ago•9 min saved

Crypto Rulemaking on the Horizon as Regulators Move Ahead with GOP Skepticism

Democrats brace for a push by SEC Chair Paul Atkins and CFTC Chair Michael Selig to advance a slate of crypto-focused rules after the Clarity Act stalled in Congress, starting with an SEC meeting that could propose a tailored regime for certain crypto assets and an innovation exemption. Regulators argue the moves are needed to keep the U.S. as a crypto hub, but they face left-leaning backlash over industry coziness, potential court challenges if legislation isn’t enacted, and scrutiny from lawmakers wary of overreach. The effort is paired with broader market-structure changes (e.g., 24/7 trading, transfer-agent rules) and could be shaped by who controls Congress and the presidency in coming years.

via Politico|

#cftc #clarity-act #crypto

politics19 days ago•4 min saved

Lawmakers urge CFTC to rein in wildfire betting markets

A group of U.S. senators asks the Commodity Futures Trading Commission to crack down on prediction markets that let people bet on wildfires, warning such markets could incentivize arson and threaten public safety; Kalshi says it avoids wildfire markets, while Polymarket has faced scrutiny; experts say these markets risk monetizing disasters amid ongoing wildfires in the Pacific Northwest.

via Ars Technica|

#arson-risk #cftc #politics

regulation22 days ago•22 min saved

Clarity Act setback could fast-track crypto regulation, Bernstein says

Bernstein says a failure to pass the Clarity Act would accelerate crypto rulemaking by the SEC and CFTC under Project Crypto, with lawmakers negotiating amid a tight Senate window; while a passage failure could spark a market dip, regulators would continue pushing for clearer token classifications, DeFi rules and self-custody guidance.

via The Block|

#cftc #clarity-act #crypto-regulation

politics24 days ago•100 min saved

Santos hit with penalties and Kalshi ban over Trump SOTU bets

Federal regulators fined former Rep. George Santos more than $35,000 and banned him from Kalshi for three years after finding he profited from trades tied to President Trump’s State of the Union address; Santos placed bets on whether he would attend the speech and later said he would miss it, prompting the CFTC investigation and settlement that resolved the allegations without admitting wrongdoing.

via MS NOW|

#cftc #george-santos #kalshi

business25 days ago•3 min saved

New York Sues Kalshi Over Illegal, Unlicensed Prediction Market

New York filed a state Supreme Court suit against Kalshi, accusing its prediction market of operating an illegal, unlicensed gambling operation and seeking to forfeit profits, restitution to harmed consumers, and fines; the case reflects a broader federal-vs-state clash over whether prediction markets fall under state gambling laws or federal commodities regulation, with Kalshi arguing it is federally licensed while regulators push licensing, taxation, and age-restriction enforcement across multiple platforms.

via The Guardian|

#business #cftc #illegal-gambling

business27 days ago•3 min saved

States challenge federal reach over sports-prediction markets

Forty-four state attorneys general told the CFTC the agency lacks authority to regulate sports-related event contracts on prediction-market platforms, arguing the proposed rule oversteps its powers and should be governed by state gambling laws; the letter arrives as the CFTC’s first prediction-market rule closes for public comment, amid ongoing litigation with nine states and a string of mixed lower-court rulings that could push the issue to the Supreme Court for a final ruling on who regulates these contracts.

via CNBC|

#attorneys-general #business #cftc

law28 days ago•7 min saved

Court blocks Minnesota’s blanket ban on prediction markets, allowing partial restrictions

A federal judge issued a preliminary injunction blocking Minnesota’s attempt to ban prediction markets, ruling that many event contracts traded on Kalshi and Polymarket qualify as swaps under the Commodity Exchange Act and fall under the CFTC's exclusive jurisdiction; the court said Minnesota may still pursue a partial ban on certain types of contracts that do not fit the swaps definition, and the case will proceed to determine the merits with potential appeals.

via Ars Technica|

#cftc #gambling #law

business28 days ago•3 min saved

Judge Blocks Minnesota’s Prediction-Market Ban as Federal Challenge Moves Forward

A federal judge issued a preliminary injunction halting Minnesota’s plan to ban prediction-market sites, ruling that the CFTC and platforms Kalshi and Polymarket are likely to prevail and that enforcing the law could cause irreparable harm while the lawsuit proceeds. The order notes most event contracts fall under federal regulation, though some pop-culture events might lie outside the CFTC’s purview, and the case against the state’s statute continues.

via MPR News|

#business #cftc #kalshi

business1 month ago•1 min saved

Prompter Under Probe for $100K Insider Bets on Trump Speeches

A White House teleprompter operator is under investigation for allegedly using inside information to place bets on words Trump would say during major speeches via Kalshi, potentially earning nearly $100,000; Kalshi froze over $90,000 and notified the CFTC.

via BBC|

#business #cftc #insider-trading

politics1 month ago•193 min saved

White House Teleprompter Operator Faces Insider-Trading Probe Over Trump Speech Bets

Federal investigators at the Commodity Futures Trading Commission are examining White House deputy assistant Gabriel Perez for possible insider trading after trades on Kalshi’s prediction markets tied to words Trump would say at speeches; Kalshi flagged the activity and profits—over $90,000—are frozen while regulators review the trades. Perez is cooperating, and this marks the first known insider-trading case involving a White House staffer in connection with prediction markets.

via CNN|

#cftc #insider-trading #kalshi

business1 month ago•2 min saved

CFTC Broadens Polymarket Probe, Testing Regulatory Resolve

The U.S. Commodity Futures Trading Commission has opened a broad investigation into Polymarket, a Trump Jr.-connected prediction-market platform, signaling a renewed push to enforce U.S. law on crypto-linked markets. This probe marks a test of the regulator’s willingness to hold high-profile players accountable, following last year’s decision to halt a separate enforcement inquiry over whether Polymarket served U.S. customers; the current investigation began earlier this year and appears extensive in scope.

via The New York Times|

#business #cftc #donald-trump-jr

business2 months ago•6 min saved

CFTC widens probe into Polymarket amid rising scrutiny of prediction markets

U.S. regulators at the Commodity Futures Trading Commission are conducting an extensive investigation into Polymarket, a leading prediction-market platform, as Washington grows concerned about insider trading risks and marketing practices tied to bets on U.S. elections, the Iran war and other events; the probe follows previous enforcement actions and ongoing scrutiny of the company’s ties to political figures, with Polymarket declining to comment while noting it is auditing promotional content.

via Politico|

#business #cftc #investigation

business2 months ago•2 min saved

CME to sue CFTC over perpetual futures, calls them swaps

CME Group CEO Terrence Duffy says the exchange will sue the CFTC over the regulator’s approval of bitcoin perpetual futures for Kalshi, arguing perpetuals are swaps under the Dodd-Frank Act; the lawsuit is to be filed the next day, a plan he has been pursuing with the board for months as he prepares to step down in 2027, while the CFTC defends its decision.

via CNBC|

#business #cftc #cme-group

politics2 months ago•316 min saved

Trump plan tightens some sports bets but keeps most prediction markets open

The Trump administration proposed new federal rules for prediction markets that would create a framework to restrict certain sports bets vulnerable to manipulation, including contracts on player injuries, officiating outcomes, and the first pitch in baseball (and even markets on high school sports). Regulators would gain tools to curb specific bets while largely preserving the broad activity of sports-related markets and other event contracts, keeping most trades on platforms like Kalshi and Polymarket allowed. Critics say the plan falls short of robust protections and push for stricter rules (such as a higher age limit or banning certain prop bets), and state lawmakers have argued for broader prohibitions on sports bets. The CFTC’s chair framed the proposal as protecting market integrity while enabling legitimate innovation. CNN’s reporting notes industry and political pushback, and the article notes that these rules would not revert to Biden-era restrictions that aimed to ban election bets; CNN also notes its partnership with Kalshi.

via CNN|

#cftc #kalshi #politics

politics2 months ago•315 min saved

Trump unveils rules to curb manipulation in prediction markets while preserving most sports bets

The Trump administration proposed federal regulations for prediction markets that would restrict certain sports bets vulnerable to manipulation (such as injuries, officiating outcomes, and first-pitch contracts) but would largely allow existing sports markets to continue, creating a framework for regulators to rein in problematic bets without banning the market entirely; critics say the proposal falls short of consumer protections and supporters see it as enabling responsible innovation.

via CNN|

#cftc #kalshi #politics