Don’t even go there. That’s arguably the message from a major horse racing group to the federal regulator of prediction markets, as well as any exchange that would dare try to dabble in the sport of kings without permission.
Tom Rooney, president and CEO of the National Thoroughbred Racing Association (NTRA), sent a letter to the chairman of the Commodity Futures Trading Commission (CFTC) on April 2 saying as much.
The comments were provided to the CFTC as the agency collects feedback on proposed rules for event contracts and prediction markets.
“The Commission has authority under the [Commodity Exchange Act] to prohibit contracts that are contrary to the public interest,” Rooney wrote.
