CFTC October 9 announcement: It proposes to explicitly include “event contracts” based on sports, politics, culture, and weather within the definition of swaps, arguing that they should be uniformly regulated under the federal derivatives framework. Prediction markets such as Polymarket and Kalshi are currently caught in disputes over state law and federal jurisdiction; this step is a formal move into rulemaking comments (comments may be submitted within 30 days after publication in the Federal Register), rather than a final effective text.
There is also a related idea: to exclude some contracts with a more entertainment-oriented nature from swaps and leave them to state-level handling. For on-chain prediction markets, the boundaries of future products and enforcement interpretation are more critical than slogans.
$BTC
The above is a compilation of public information and personal views and does not constitute investment advice. Crypto is highly volatile; please make your own judgment when making decisions.
There is also a related idea: to exclude some contracts with a more entertainment-oriented nature from swaps and leave them to state-level handling. For on-chain prediction markets, the boundaries of future products and enforcement interpretation are more critical than slogans.
$BTC
The above is a compilation of public information and personal views and does not constitute investment advice. Crypto is highly volatile; please make your own judgment when making decisions.