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The Defiant 2025-02-13 11:48:51

CFTC Commissioner Says Election Prediction Markets ‘Are Here to Stay’

CFTC Commissioner Says Election Prediction Markets ‘Are Here to Stay’

The Commodity Futures Trading Commission (CFTC) will be taking a new, friendlier look at election prediction markets, one of its members told a Federalist Society panel on Cryptocurrency After the Election. “I think election prediction markets are here to stay,” CFTC Commissioner Summer Mersinger said on Feb. 11. “So the agency has to take a different approach.” Former CFTC Chairman Rostin Behnam sued to stop prediction market Kalshi from offering election contracts, saying that if someone put out fake news about a political race to move the odds on an election contract, the CFTC would have to investigate it as fraud or price manipulation. That, Benham said, would put the agency in the untenable position of policing elections. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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