CFTC Warns Prediction-Market Platforms Against Using American-Style Gambling Odds
JH Kim
Summary
- The US Commodity Futures Trading Commission, or CFTC, reportedly sent letters telling some prediction-market platforms to stop using American-style gambling odds.
- The CFTC said companies under its oversight must comply with US derivatives laws.
- The CFTC also warned that firms must not use deceptive practices when listing, soliciting or advertising products.
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The US Commodity Futures Trading Commission has sent letters to some prediction-market platforms warning them not to use American-style gambling odds, Bloomberg reported on August 7.
American-style gambling odds express potential returns with plus and minus signs based on the amount wagered.
The CFTC said firms under its oversight must comply with US derivatives laws. It also cautioned them against using deceptive practices when listing, soliciting or advertising products.
JH Kim
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