Kalshi adds required employment verification for some prediction market bets
The CFTC is considering its first regulation for prediction markets, as arrests over "insider trading" on everything from military operations to Google Search data continue to stack up. As CoinDesk reports, a notice of proposed rulemaking says "the proposal would establish a structured framework for evaluating whether such contracts involve an activity enumerated in Section 5c(c)(5)(C) of the Commodity Exchange Act -activity that involves terrorism, assassination, war, gaming
The Commodity Futures Trading Commission (CFTC) is exploring its first regulations for prediction markets, a move that comes amid ongoing investigations into alleged insider trading on various market predictions. These investigations have touched upon sensitive topics ranging from military actions to proprietary data. The proposed framework aims to determine if prediction market contracts fall under categories deemed contrary to public interest, such as those involving terrorism, war, or illegal activities. In parallel, the prediction market platform Kalshi has implemented new requirements for employment verification for certain types of bets.
This development signifies a significant step towards regulating the nascent prediction market industry, potentially impacting how individuals can bet on future events.
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