The Commodity Futures Trading Commission is moving from guidance to formal rulemaking, publishing proposed amendments to rules for prediction market operators on Wednesday.
The proposed rules lay out a menu of potential prediction markets regulations and opens a 45-day public comment period once the Federal Register publishes them. During the comment period, the CFTC is asking whether prediction markets input on a variety of potential rules. The proposed rule making document is 267 pages.
The agency also wants input on how existing exchange core principles should apply to prediction markets. Additionally, it seeks input on whether blockchain-based platforms need separate rules.
“The CFTC will protect the integrity of our regulated markets without standing in the way of responsible innovation,” CFTC Chairman Michael S. Selig said in a release.
