CFTC Enforcement Crashes 80% as Crypto Markets Boom
#CFTC #CryptoRegulationTrump-era cuts slashed CFTC staff 21% and enforcement actions nearly 80%, weakening oversight of booming crypto and prediction markets. The GAO is now investigating, while Chair Selig pushes deregulation and expanded agency rulemaking despite critical understaffing. read more
Polymarket pulls Mahomes market after CFTC pressure
#CFTC #NFLPolymarket withdrew its market on Patrick Mahomes' Week 1 return after CFTC guidance, aligning with NFL opposition to injury-related bets. Kalshi still offers similar markets, while legal disputes over prediction markets continue. read more
Feds probe mention markets after White House betting scandal
#PredictionMarkets #CFTCFederal regulators probe Kalshi's "mention markets," where bettors wager on speakers' words, prompting removal of sports options. CFTC examines manipulation risks after a teleprompter operator profited from Trump bets. Kalshi and Polymarket face scrutiny over controversial prediction markets. read more
CFTC proposes ban on sports prediction market trades
#PredictionMarkets #CFTCThe CFTC proposes banning prediction markets on sports injuries, officiating, and in-game props, deeming them contrary to public interest. Most outcome-based sports contracts remain allowed, citing economic utility. Public comments will be accepted for 45 days before implementation. read more