New CFTC Prediction Market Proposal Would Ban War And Terrorism Bets While Allowing Sports Markets

New CFTC Prediction Market Proposal Would Ban War And Terrorism Bets While Allowing Sports Markets The Commodity Futures Trading Commission (CFTC) has unveiled a proposed framework for prediction markets that would prohibit contracts tied to violent or harmful events, including terrorism, war, and political assassinations, while largely preserving sports-based markets, according to Bloomberg. Under the proposal, "gaming" would be interpreted more narrowly, focusing on activities driven primarily by chance. As a result, most existing sports event contracts would remain permissible. According to CFTC Chairman Michael Selig, the agency's goal is to "protect...