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Market Integrity and Manipulation in Election Prediction Markets

Until recently, the Commodity Futures Trading Commission (CFTC) has limited the ability of US persons to participate in election markets. However, recent developments have allowed event contracts to be made available to US...more

Political Event Contract Update: Previewing Tomorrow’s Kalshi v. CFTC Appellate Court Hearing

As we have previously noted, the Commodity Futures Trading Commission (CFTC) continues to face legal challenges to its regulatory approach to political event contracts. The past two weeks have seen a flurry of activity in the...more

Divided CFTC Releases “Gaming” Event Contract Rule Proposal

On May 10, 2024, the Commodity Futures Trading Commission (CFTC or Commission) proposed amendments to CFTC Regulation 40.11 (the Proposed Rule) that further define “gaming” contracts considered “contrary to the public...more

CFTC Anti-Fraud and Anti-Manipulation Authority: A Focus on Intermediaries

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), significantly expanded the Commodity Futures Trading Commission’s (“CFTC” or “Commission”) anti-fraud and anti-manipulation statutory...more

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