The White House is reviewing a proposed rule from the U.S. Commodity Futures Trading Commission (CFTC) that would establish guidelines for “event contracts,” according to reporting cited from official materials. The CFTC proposal represents the agency’s latest effort to define federal oversight of prediction markets, which have grown rapidly in recent years. The review is being conducted by the Office of Management and Budget (OMB), as indicated by a U.S. government website noting the rule’s progression through internal regulatory steps. The notice also says the rule has not yet been published. The CFTC’s move is occurring amid an ongoing dispute over jurisdiction between federal and state regulators over who should supervise prediction markets. While the sources agree on the existence of the CFTC proposal and the fact that it is currently under White House/OMB review, neither outlines the full substance of the guidelines at this stage, nor specifies whether or when the rule will be finalized or released for public comment. The review continues as the CFTC seeks to clarify its regulatory role in this expanding market segment.
White House reviews CFTC proposal to regulate prediction markets
The White House is reviewing a proposed rule from the U.S. Commodity Futures Trading Commission (CFTC) that would establish guidelines for “event contracts,” according to reporting cited from official...
- The CFTC submits a proposed rule aimed at regulating event contracts tied to prediction markets.
- The proposed rule is undergoing review by the Office of Management and Budget as part of the White House process.
- The rule is not yet published, according to a U.S. government notice referenced by reporting.
- The CFTC proposal is part of an effort to define federal supervision of prediction markets amid jurisdiction disputes with states.
- Reporting indicates the White House review is the current stage of the rulemaking timeline.
A proposed rule for prediction markets submitted Tuesday (May 26) by the Commodity Futures Trading Commission (CFTC) is undergoing a regulatory review by the Office of Management and Budget, according to a U.S. government website. The rule has not yet been published, according to the site. Bloomberg flagged this notice in a Wednesday (May […] The post White House Reviews CFTC’s Proposed Prediction Market Rule appeared first on PYMNTS.com.
3 months agoThe White House is reviewing a new US Commodity Futures Trading Commission proposal that would lay out guidelines for event contracts, the agency’s latest move to mark its turf as it battles with states over who gets to regulate the exploding prediction markets.
3 months ago
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