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Commodities regulator alleges Winklevoss' Gemini crypto exchange was politically targeted
The chairman of the Commodity Futures Trading Commission said it's correcting a flawed enforcement action against Gemini Space Station, the crypto exchange run by the Winklevoss brothers, alleging caught up in a broader campaign against the crypto industry under the Biden administration. "The Biden administration weaponized the federal agencies against the crypto industry and many other industries," Michael Selig said Tuesday in a CNBC "Squawk Box" interview. "They politically targeted...
Less props for prediction markets under proposal
Prediction markets such as Kalshi and Polymarket could soon be barred from offering certain types of sports-related event contracts, including those involving officiating outcomes or player injuries. The Commodity Futures Trading Commission, the federal agency that regulates prediction markets, on Wednesday released a 267-page proposal that would rework and more carefully define some of the rules governing prediction markets and the types of event contracts they can offer. The proposed...
Regulators' proposed prediction markets rules ban trading on terrorism, assassinations
Federal regulators came out with their first proposed rules on how to oversee prediction markets on Wednesday. The Commodity Futures Trading Commission, which has taken the lead as the federal regulator over the markets, will seek to develop a framework to determine if contracts are contrary to the public interest and illegal. Those questions surround contracts that relate to terrorism, assassinations, war, gaming or illegal conduct under state and or federal law, based on the Commodity...