The United States federal government is reminding online betting exchanges that function as derivate financial markets that offering event contracts involving crime remains prohibited. Luigi Mangione appears in Manhattan Supreme Court on Dec. 23, 2024, to face murder charges for killing UnitedHealthcare CEO Brian Thompson. The U.S. federal government has warned online wagering exchanges that prediction markets involving crime are prohibited. (Image: Getty) Kalshi and other prediction-based online exchanges are regulated by the U.S. Commodity Futures Trading Commission (CFTC). Last week, the independent agency of the U.S. government that oversees derivates, including futures, swaps, and options, told Kalshi and others like it that contracts based on outcomes associated with crime, assassination, terrorism, and war are banned. CFTC Regulation 40.11 prohibits event contracts that reference terrorism, assassination, war, gaming, or an activity that is unlawful under any state or federal law. The CFTC explains that the statute bans markets “contrary to the public interest.” The notice to Kalshi came after the… Read More
Category: Regulation, betting exchange, CFTC, Commodity Futures Trading Commission, derivatives, Kalshi, Luigi Mangione, Polymarket
Source: Casino.org
