Prediction Market Coalition Supports CFTC Rules with Conditions

The Coalition for Prediction Markets has expressed support for the Commodity Futures Trading Commission's (CFTC) proposed rules for prediction markets, but urged revisions to certain aspects of the framework.

In a comment letter submitted to CFTC Secretary Christopher Kirkpatrick on July 27, the coalition argued that a consistent federal approach is necessary to maintain uniform rules for federally registered markets and avoid fragmented state oversight.

The group also suggested revising the definition of 'gaming' in the proposed rules, which could potentially capture activities beyond traditional gambling. They recommended adopting a narrower definition or providing additional guidance on how regulators would apply the standard.