CFTC sees mixed responses to prediction market rulemaking

The CFTC received more than 1,500 responses to its prediction market rulemaking proposal, with respondents divided on how it should police the platforms.

The US Commodity Futures Trading Commission received more than 1,500 responses to a proposed rule tied to prediction markets, with some backing the regulator while others called for a tougher crackdown on the platforms.

The CFTC’s request for public comments on a rule it proposed in March that would allow it to amend or issue new regulations for event contracts on prediction markets ended on Thursday, drawing responses from prediction markets, crypto firms and consumer advocacy groups.

Kalshi co-founder and chief operating officer Luana Lopes Lara backed the CFTC in a letter on Thursday, saying its existing regulations were “well-designed and effective,” urging it to give guidance to ensure “that the universe of event contracts can continue to be listed, traded, and overseen by the Commission.”

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