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U.S. CFTC Proposes Ban on Political Event Contracts

J_News by J_News
May 10, 2024
in Crypto, Top News
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U.S. CFTC Proposes Ban on Political Event Contracts
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Prediction platforms including PredictIt, Polymarket, Zeitgeist and Kalshi give users opportunities to buy contracts on the outcomes of actual events, including elections and policy developments, and they’ve been popular in crypto circles. Buyers make yes-or-no bets that pay off if they’re right and cost them money if they’re wrong. Contracts on political contests, awards contests and the outcome of games would be banned for U.S.-regulated companies under the proposal.



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