As many expected, it rained and poured during the final 48-hour window for submission of comments to the Commodity Futures Trading Commission (CFTC) on the application of existing rules and potential future rules or amendments for prediction markets in the U.S.
On March 16, CFTC Chairman Michael S. Selig announced the April 30 deadline for the Advanced Notice of Proposed Rulemaking (ANPRM), in which the CFTC sought public comment on the need to amend or issue new regulations concerning event contracts traded on prediction markets. Specifically, Selig called for comments “concerning the application of statutory core principles and Commission regulations to prediction markets, the types of event contracts that may be prohibited as contrary to the public interest, cost-benefit considerations related to prediction markets, and other topics.”
