The Commodity Futures Trading Commission has directed designated contract markets (DCMs) in the United States to remove domestic geographic restrictions on prediction market access within 30 days or explain why they cannot comply.
The directive was issued on November 5 as part of a new interpretation of the CFTC’s impartial access requirements, approved by the Commission.
In a press release, CFTC Chairman Michael S. Selig said, “Derivatives markets must operate on a uniform basis at a national scale in order to achieve the purposes set out in the Commodity Exchange Act. ”
The change could affect prediction market platforms such as Kalshi, which has been ordered by courts to restrict its sports event contracts in states like Michigan, Nevada and Washington.
