U.S. CFTC Proposes Ban on Political Occasion Contracts

Prediction platforms together with PredictIt, Polymarket, Zeitgeist and Kalshi give customers alternatives to purchase contracts on the outcomes of precise occasions, together with elections and coverage developments, and so they’ve been widespread in crypto circles. Patrons make yes-or-no bets that repay in the event that they’re proper and price them cash in the event that they’re mistaken. Contracts on political contests, awards contests and the end result of video games could be banned for U.S.-regulated corporations beneath the proposal.