The Commodity Futures Trading Commission (CFTC) might be playing Whac-A-Mole with the idea of being able to bet on political action in America.
Last month, the regulator all but shut down PredictIt.org, which has been offering political futures markets legally since 2014. The operation, based out of Victoria University of Wellington in New Zealand, saw its “no-action” letter withdrawn by the CFTC, with demands to cease offering political trading markets by Feb. 15, 2023.
But as PredictIt fights for its American life, another operator is hoping the CFTC allows them to begin to offer markets on political futures.