What to know : The U.S. Commodity Futures Trading Commission has withdrawn an earlier rule proposal that would have banned political events contracts in the prediction markets. The regulator is moving forward with a new rulemaking that's expected to be more friendly toward the sector, now that President Donald Trump's new CFTC chairman, Mike Selig, is advancing policies to embrace new technologies.
The U.S. government is formally reversing its previous stance on banning certain activities at prediction market firms such as Kalshi and Polymarket, with U.S. Commodity Futures Trading Commission Chairman Mike Selig moving Wednesday to withdraw a proposed event-contracts rule from 2024 and scrapping an earlier advisory he said confused the industry.
In 2024, the derivatives regulator proposed a rule that would have banned contracts based on the outcome of political events, legally equating them with illicit contracts on war, terrorism and assassination and calling them "contrary to the public interest." That rule never advanced to a final stage before President Donald Trump returned to the White House and appointed new CFTC leadership. The CFTC had allowed prediction markets based on political events to launch after losing a court fight over Kalshi's intended offering that same year.
The recently confirmed chairman of the agency, Selig, has now cleared the decks of that and a minor advisory issued in September on certain contract markets.
“The 2024 event contracts proposal reflected the prior administration’s frolic into merit regulation with an outright prohibition on political contracts ahead of the 2024 presidential election," Selig said in a statement. "The Commission is withdrawing that proposal and will advance a new rulemaking grounded in a rational and coherent interpretation of the Commodity Exchange Act that promotes responsible innovation in our derivatives markets in line with Congressional intent.”
Selig's action is unsurprising, following closely on the heels of his remarks last week that signaled it was coming. He said he'd "directed CFTC staff to move forward with drafting an event contracts rulemaking."
The Trump administration's embrace of the prediction markets has paved the way for increased interest from companies seeking to throw their hat into the sector, such as Coinbase, or the tangential pursuit of similar products from Cboe.
The September advisory Selig pulled back had been meant to caution platforms about litigation concerns, he said, but it had "inadvertently created confusion and uncertainty for our market participants."
The CFTC is expected to become a central voice in digital assets oversight, in which the prediction markets have had an overlapping interest. Selig is working on a number of new initiatives, and the Congress is negotiating its crypto market structure bill that — among many other points — is meant to establish the CFTC as the rightful watchdog of crypto spot markets that don't involve securities.
Read More: U.S. SEC, CFTC chiefs push united front on paving the way for crypto
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
