CFTC Receives Over 1,500 Comments on Proposed Prediction Market Rules

The U.S. Commodity Futures Trading Commission (CFTC) has received more than 1,500 comment letters regarding its proposed rules for prediction markets. According to NS3.AI, the proposal, introduced in March, aims to either modify existing regulations for event contracts or establish new ones. Luana Lopes Lara, co-founder of Kalshi, emphasized the need for the CFTC to provide clear guidance to ensure the continued trading of event contracts. Meanwhile, Kevin O'Toole, Executive Director of the Pennsylvania Gaming Control Board, noted that prediction market platforms are functioning similarly to sports betting, yet remain in a regulatory blind spot.