CFTC Urged to Focus on Election Betting Regulation After Kalshi Ruling
CryptoNewsTerminal Staff13 Sep, 2024
CFTC Urged to Focus on Election Betting Regulation After Kalshi Ruling
As a federal court ruled that the Commodity Futures Trading Commission overstepped its authority in trying to ban the political prediction market operated by Kalshi, Rep. Ritchie Torres said, "The CFTC should accept the ruling... I urge the agency to focus on promoting responsible innovation, regulating exchanges, protecting consumers, and safeguarding the sanctity and integrity of our elections from illegal activity." He wrote in a letter to CFTC Chairman Rostin Behnam that "The CFTC should dedicate resources to protecting consumers and the integrity of elections from illicit and unregulated election markets," according to The Block.
