US CFTC receives over 1,500 comments on prediction market rules

The U.S. Commodity Futures Trading Commission (CFTC) has received more than 1,500 comment letters on its proposed regulations for prediction markets, Cointelegraph reported. The comment period pertains to rules proposed by the CFTC in March that would allow for modifying existing regulations or introducing new ones for event contracts within these markets. In a letter, Kalshi co-founder Luana Lopes Lara stated that the current regulations are effectively designed and that the CFTC should provide clear guidelines to allow event contracts to continue trading. In contrast, Kevin O'Toole, Executive Director of the Pennsylvania Gaming Control Board, expressed a dissenting view, arguing that prediction market platforms are effectively operating like sports betting in a regulatory blind spot.