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CFTC forecast market rules spark industry debate
CryptoWorld News reports that the U.S. Commodity Futures Trading Commission (CFTC) has received over 1,500 public comments discussing its proposed rules for prediction market event contracts. The CFTC stated that the comment period for the March proposal ended on Thursday, during which feedback was received from prediction market operators, crypto companies, and state gambling agencies. Kalshi co-founder Luana Lopes Lara said that the commission’s current framework is “well-designed and effective,” calling on regulators to provide clarity so that “the scope of event contracts can continue to be listed, traded, and regulated.” Justin Hertzberg, CEO of Polymarket, reiterated that the CFTC should continue to assert exclusive jurisdiction over prediction markets. Andreessen Horowitz pointed out that state-level regulatory efforts on prediction markets have created “serious barriers to fair access.” Meanwhile, Kalshi, Polymarket, and Coinbase are facing lawsuits related to sports event contracts, and the CFTC has also taken legal action against at least five state governments to defend its jurisdiction.