US Senators Seek to Halt CFTC Push Against Prediction Market Oversight
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5 Articles
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BITRSSUS Senators Seek to Halt CFTC Push Against Prediction Market Oversight
A group of 17 Democratic US senators has asked the Senate Appropriations Subcommittee on Financial Services and General Government to stop the Commodity Futures Trading Commission (CFTC) from using federal funds to pursue litigation against state authorities over prediction markets. The push targets CFTC Chair Michael Selig’s defense of the agency’s view that it has “exclusive jurisdiction” over such platforms. In a Wednesday letter to the chair…
17 Democratic Senators Seek to Bar CFTC From Funding Prediction-Market State Lawsuits
Seventeen Democratic senators sent a letter to the Senate Appropriations Subcommittee on Thursday urging lawmakers to cut off CFTC funding for its campaign of lawsuits against states that have tried to regulate prediction-market platforms under local gambling laws. Sens. Richard Blumenthal and Jeff... Read the full story at The Defiant
Senators Bid to Block CFTC From Using Federal Funds to Sue States in Prediction Market Cases
A group of 17 Democratic Party Senators, including the outspoken Richard Blumenthal, has asked a Senate subcommittee to ban the Commodity Futures Trading Commission (CFTC) from using federal funds to fuel prediction market-related legal battles.Scores of states have tried to use their gambling laws to police operators like Kalshi and Polymarket. Some have tried to ban prediction market players outright. Others are demanding that Kalshi and Polym…
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