SHORT TAKE-US CFTC ships prediction markets rule proposal to Trump budget office
By Chris Prentice
NEW YORK, March 3 (Reuters) - The U.S. Commodity Futures Trading Commission has sent a rulemaking plan for prediction markets to the President's Office of Management and Budget, kicking off the process to write new rules for the controversial, but fast-growing markets.
WHY IT’S IMPORTANT
Trading on platforms such as Kalshi and Polymarket is facing backlash after bets on the potential death of Iran's Supreme Leader Ayatollah Ali Khamenei have sparked threats from U.S. lawmakers to outlaw the wagers.
The platforms also face pushback from state gaming regulators, and the CFTC under its new Republican Chairman is trying to establish its jurisdiction over such markets.
CONTEXT
The Budget office's regulatory affairs website showed the CFTC's prediction markets regulation had been submitted on Monday and is in "prerule" stage, but offered no further details.
The move signals the beginning of the rulemaking process.
Related Articles
Partnering With Lumentum and Coherent, Can Nvidia’s $4 Billion CPO Bet Support the Future of AI Computing Power?
TradingKey - On Monday, March 2 local time, NVIDIA (NVDA) announced that it has entered into a deep strategic partnership with optical technology manufacturers Lumentum (LITE) and Coherent (COHR). NVIDIA will invest $2 billion in each company, totaling a massive $4 billion investment. This move advances NVIDIA's strategic layout in the field of AI data center network architecture to a new stage.
Bitcoin Stuck in Range Struggle, Can US-Iran Conflict Help a Breakout?
As the US-Iran conflict continues to escalate, Bitcoin prices remain range-bound and are losing their war premium.
JPMorgan Warns Hormuz Blockade Risks Oil Shutdown in 25 Days, But How Will the US-Iran Conflict Shape Global Oil Prices?
TradingKey - Following the announcement on the night of February 28 banning all vessels from passing through the Strait of Hormuz, JPMorgan Chase issued a warning: if the Strait of Hormuz is completely blocked, the combined onshore and offshore storage capacity of Middle Eastern oil-producing nation
US-Iran Conflict Ignites, Global Arms Race Heats Up, Will Defense Stocks See a New Round of Gains?
TradingKey - On February 28 local time, the United States and Israel launched joint large-scale airstrikes against Iran, targeting its nuclear facilities, missile industry, and naval forces. This marks another sharp escalation in the conflict following the US military strikes on Iranian nuclear facilities in June last year. The military operation not only exacerbates already strained geopolitical tensions but has also sent shockwaves through global capital markets, which is expected to further boost defense stocks.
The Hyperliquid Phenomenon: HYPE Ecosystem’s Path to $250
Explore the Hyperliquid (HYPE) 2026 outlook as it evolves from a high-speed DEX into a powerful Layer 1 ecosystem. This analysis breaks down the $2.95 trillion trading volume, the impact of the HIP-4 prediction market launch, and the HYPE token's technical resilience at the $31.77 level amidst globa
