CFTC Opens Public Comment on Potential New Rules for Prediction Market Event Contracts

On March 12 in Washington, the U.S. Commodity Futures Trading Commission announced it is inviting public comment on whether additional regulations or amendments are needed for event contracts traded on prediction markets. The agency issued an advanced notice of proposed rulemaking to examine how the Commodity Exchange Act and current CFTC rules should apply, with written comments due within 45 days of the notice's publication in the Federal Register. Chairman Michael S. Selig said the consultation is part of the Commission's effort to support responsible innovation while maintaining its jurisdiction over prediction markets.