Crypto.com and Dragonfly Capital Urge CFTC to Reconsider 'Predictive Market Regulation'
CryptoNewsTerminal Staff11 Aug, 2024
Crypto.com and Dragonfly Capital Urge CFTC to Reconsider 'Predictive Market Regulation'
Crypto.com and Dragonfly Capital have sent letters to the US Commodity Futures Trading Commission (CFTC) expressing their concerns about proposed regulations that would ban decentralized prediction market platforms. The companies argue that predictive markets should not be classified as gambling activities and that they can have positive economic effects, such as providing information about future events and facilitating efficient markets. Coinbase and Gemini have also sent letters to the CFTC making similar arguments. The CFTC is currently considering the proposed regulations, and it is unclear whether it will adopt them. However, the letters from Crypto.com, Dragonfly Capital, Coinbase, and Gemini highlight the growing opposition to the proposed regulations within the cryptocurrency industry.
