44 U.S. State Attorneys General Urge CFTC to Withdraw Sports Prediction Market Rules

KALSHI-14.26%
POLYMARKET-16.49%
According to BlockBeats, 44 U.S. state attorneys general sent a joint letter to the Commodity Futures Trading Commission (CFTC) on July 29, urging it to withdraw proposed rules on sports prediction markets, arguing that the CFTC lacks authority to regulate such contracts. The letter asserts that sports betting has long been regulated by individual states and contends that the CFTC's proposed rules would exceed its legal mandate under the Commodity Exchange Act (CEA) and violate the U.S. Constitution. The dispute centers on regulatory jurisdiction over platforms like Kalshi and Polymarket.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments