CFTC Staff Recommend Rejecting Kalshi's US Election Contracts: Bloomberg

Prediction market Kalshi's request to create contracts linked to U.S. election outcomes should be rejected, according to staff of the regulator weighing the request, Bloomberg reported.
Their recommendations are not binding. Commissioners at the U.S. Commodity Futures Trading Commission ultimately decide, though staff members' advice carries weight.
Read more: Prediction Market Kalshi Signals It Sees CFTC's Blessing for Midterm Election Bets
Related news
Policy
Apr. 01, 2023

U.S. Government Case Against Voyager-Binance.US Deal Has 'Substantial' Merits, Judge Says
The U.S. government has a “substantial case on the merits” in its bid to quash a $1 billion deal by Binance.US to buy the assets of bankrupt crypto lender Voyager, a New York judge said Friday . District Judge Jennifer Rearden said she’d try ...
Policy
Mar. 31, 2023

Crypto Exchange Bittrex to Wind Down U.S. Operations Next Month
Cryptocurrency exchange Bittrex will shut down its U.S. platform on April 30 after nine years of operation, the company announced on Friday . “It’s just not economically viable for us to continue to operate in the current U.S. regulatory and ec...
Policy
Mar. 31, 2023

U.S. Futures Watchdog Issues Compliance Rule for Crypto Activities Among Members
In the absence of formal crypto rules from U.S. government agencies, the National Futures Association (NFA) is setting up standards for its members that deal in digital assets commodities. The NFA – which as a so-called self-regulatory organizat...
Policy
Mar. 31, 2023

Sushi Swap CEO Says He No Longer Feels 'Inspired' Amid U.S. Regulators’ Crypto Crackdown
Sushi Swap Head Chef Jared Grey is no longer feeling "inspired" after a wave of regulatory crackdowns on crypto exchanges, including the decentralized exchange (DEX) he manages, has put immense pressure on the crypto industry, according to commen...
Policy
Mar. 30, 2023

Tron Founder Justin Sun Reportedly Lost His Diplomatic Status
Justin Sun, founder of the Tron blockchain, is reportedly no longer a diplomat for Grenada. According to a report from the Grenada Broadcasting Network this week, Sun was stripped of his status as ambassador sometime after elections held in Ju...
Policy
Mar. 30, 2023

French Crypto Influencer Ban Will Harm Country’s Attractiveness, Industry Group Says
A planned ban on social-media influencers promoting unlicensed crypto products will harm France’s attractiveness to global Web3 players, lobby group Adan sai d after a vote in the National Assembly on Thursday. Lawmakers supported a move propos...