CFTC Warns Prediction Markets Against American-Style Casino Odds
Bloomberg
The CFTC warned prediction markets to avoid using American-style gambling odds amid legal challenges over illicit sports betting allegations.Summary
The Commodity Futures Trading Commission (CFTC) issued a warning to prediction markets, instructing them to refrain from using American-style gambling odds in their products. The agency sent a letter to CFTC-regulated entities reminding them to comply with U.S. laws governing derivative trades and avoid deceptive practices when listing, soliciting, or advertising such products. The warning comes as the CFTC faces legal challenges alleging that prediction markets operate as illicit sports betting operations. The letter was later made public by the agency on Friday.
(Source：Bloomberg)