Acting CFTC Chair: "Will Reconsider Regulatory Approach for Prediction Platforms like Polymarket and Kalshi"
Summary
- The U.S. CFTC announced plans to reconsider the regulatory approach for prediction platforms like Polymarket and Kalshi.
- This includes discussions to review the stance on prohibiting election betting, which will be conducted through an expert roundtable meeting.
- Acting Chair Caroline Pham sees prediction platforms as an important frontier in the market and stated that related hostilities need to be resolved.
The U.S. Commodity Futures Trading Commission (CFTC) is expected to reset its regulatory approach towards decentralized prediction platforms such as Polymarket and Kalshi.
According to CoinDesk on the 6th (local time), Caroline Pham, Acting Chair of the CFTC, stated that the regulatory approach towards decentralized prediction platforms like Polymarket and Kalshi will be reconsidered.
Previously, the CFTC held the position that election betting should be prohibited on prediction platforms, but plans to reset the regulatory direction through discussions. To this end, the CFTC plans to hold a roundtable meeting with experts next month.
Regarding this, Caroline Pham said, "Prediction platforms are an important frontier that can leverage market forces to foresee probabilities. Past hostilities need to be cleared up."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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