Prediction Market Split Deepens Ahead of CFTC Deadline
Highlights
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The CFTC’s Advance Notice of Proposed Rulemaking (ANPRM) that seeks public comment on future event-based contracts ended on 30th April.
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Tribal and Industry groups want contracts to be treated as gaming.
The Commodity Futures Trading Commission (CFTC) has published an Advance Notice of Proposed Rulemaking (ANPRM) seeking people’s opinion on prediction market regulations. The public comment period concluded on 30th April.
There was a clear depiction of the majority of the submissions that were closer to the deadline, highlighting the risks and classification of prediction market software.
There were a total of 1,330 comments that were recorded in response to the CFTC’s Advance Notice of Proposed Rulemaking (ANPRM).
The polling suggests most of them have voted against the future trading options. But the sector has been strongly backed by academics, researchers, and individual users.
The Institute of Internal Auditors (IIA) and the National Council on Problem Gambling (NCPG) have raised concerns about integrity and consumer protection in the prediction market.
Academic and research centers have critically analysed the prediction markets. They outlined the benefits and possible risks that coexist with the prediction market,
Finally, associates representing tribe and industry groups firmly believe that prediction markets are a form of gambling. So similar guidelines should be applied even to prediction markets.
For more details, Refer Here!
There was a clear depiction of the majority of the submissions that were closer to the deadline, highlighting the risks and classification of prediction market software.
There were a total of 1,330 comments that were recorded in response to the CFTC’s Advance Notice of Proposed Rulemaking (ANPRM).
The polling suggests most of them have voted against the future trading options. But the sector has been strongly backed by academics, researchers, and individual users.
The Institute of Internal Auditors (IIA) and the National Council on Problem Gambling (NCPG) have raised concerns about integrity and consumer protection in the prediction market.
Academic and research centers have critically analysed the prediction markets. They outlined the benefits and possible risks that coexist with the prediction market,
Finally, associates representing tribe and industry groups firmly believe that prediction markets are a form of gambling. So similar guidelines should be applied even to prediction markets.
For more details, Refer Here!
