CFTC Scraps Proposed Ban on Political and Sports Prediction Markets, Pledges New Regulatory Framework
In a major policy reversal, the U.S. Commodity Futures Trading Commission has formally withdrawn a contentious 2024 proposal that sought to outlaw event contracts tied to politics, sports, and conflict. Chairman Michael S. Selig dismissed the plan as a politically motivated overreach, signaling the agency's intent to regulate—not stifle—the fast-growing prediction market sector.