The Third Sovereign: Tribes Take on Prediction Markets

44 states are aligned on one thing in their fight against prediction markets. It's about sports wagering

The letter is part of the commission’s public comment period for the first draft of its proposed rule on regulating prediction markets.

STOCK MARKET: 44 states say CFTC has no authority over sports prediction markets

The Commodity Futures Trading Commission headquarters in Washington, Dec. 23, 2022. Ting Shen | Bloomberg | Getty Images A coalition of 44 state attorneys general wrote in a letter to the Commodity Futures Trading Commission on Monday that the agency doesn’t have the power to regulate sports-related event contracts on prediction market platforms.  The letter was sent as the public comment period for the CFTC’s first proposed rule on prediction m…

The third sovereign: Tribes take on prediction markets

Everyone covering the prediction market legal war has been watching states. The more dangerous case is being argued in the Ninth Circuit by three California tribes under a different statute entirely, and at oral argument this month a judge told…

NFL Believes CFTC's Rules On Prediction Markets Are 'Falling Short'

The National Football League still believes that the Commodity Futures Trading Commission is falling short of addressing the concerns the league has when it comes to the risks around predictions markets. In a letter addressed to CFTC Chairman Michael Selig on Monday, SVP of NFL Public Policy and Government Affairs, Brendon Plack, stated that current … Continued The post NFL Believes CFTC’s Rules On Prediction Markets Are ‘Falling Short’ appeared…

NFL Tells Regulator Prediction Market Sports Contract Rule-Making ‘Falls Short’

The National Football League has reportedly told the Commodity Futures Trading Commission it is unhappy with the regulator’s latest prediction market rule-making.The NFL wants the CFTC to ban operators from offering certain types of sports-related contracts, beef up its insider trading rules, and roll out user protection protocols that mirror those used by US sportsbooks.“The draft rules fall significantly short of protecting the integrity of sp…

Dodd opposes CFTC prediction markets rule proposal

Former U.S. Sen. Christopher J. Dodd is pressing the Commodity Futures Trading Commission to abandon a proposed rule on prediction markets, saying it would depart from what Congress intended when it approved the Dodd-Frank Act after the 2008 financial crisis.  His July 26 letter to CFTC Secretary Christopher Kirkpatrick argues the proposal could encourage gambling through regulated derivatives markets instead of preserving the law’s original pur…