By intervening in individual bets, companies like Kalshi and Polymarket are not acting as neutral market makers, as they have claimed in litigation.
CFTC
Posted inMoney, Politics, and Power
Monetizing Regime Change
It is trivially easy for administration officials to use prediction markets to bet on the policies they authorize. We may have just seen it in Venezuela.
Posted inMoney, Politics, and Power
The Blockchain Association Just Bought the CFTC
The revolving door isn’t just corrupting the CFTC—it may end the pretense of a Commission altogether.
Posted inPolitics
Pelosi May Back Industry-Friendly House Crypto Bill
The industry has become a major spender in political campaigns, and the most prodigious fundraiser among Democrats is taking notice.
Posted inMoney, Politics, and Power
Wall Street’s Favorite Financial Regulator May Be Looking for a New Job
CFTC Chair Rostin Behnam’s term doesn’t end until 2026, but there are rumblings of an early exit to the private sector. Place your bets where he’ll end up next!
Posted inEconomic Policy
Democrats Ask Biden Financial Regulator to Reverse Industry-Friendly Derivatives Policy
Three Agriculture Committee senators want Rostin Behnam to drop a new rule that would grant exemptions on swap trades.
Posted inMoney, Politics, and Power
The CFTC Ponders Gambling on Democracy’s Future
Gambling site Kalshi is spending big on a lobbying campaign to allow people to bet on the end of the American republic.