CFTC Signals Support for Prediction Markets Ahead of Super Bowl
CFTC chair Michael Selig said the agency will drop its 2024 ban proposal and draft rules to allow sports-related event contracts.
Overview
CFTC Chair Michael Selig said in a statement last week the agency will abandon its 2024 proposal banning political and sports-related contracts and will draft rules supporting lawful innovation in prediction markets.
Kalshi reported $161 million in trading on its Seattle–New England Super Bowl market as of Tuesday evening, with roughly 70% of traders favoring Seattle, company records show.
The National Football League barred prediction-market commercials from airing during the Super Bowl, a move confirmed by a source familiar with the league's advertising policy.
Americans are expected to wager a record $1.76 billion on the Super Bowl, according to the American Gaming Association, while prediction markets have expanded into states where sportsbooks are banned.
Massachusetts and Nevada have filed suit and nine other states have sent cease-and-desist letters, and New York Attorney General Letitia James issued a consumer warning, signaling ongoing legal and regulatory battles ahead.
Analysis
Center-leaning sources frame this piece through moralizing personal testimony and emotionally loaded terms, privileging a youth perspective without counterbalance. Editorial choices—first-person anecdote, words like 'corrupted' and 'lure', and omission of industry voices or data—create a narrative of gambling as an irresistible harm rather than a contested public debate.
Sources (6)
FAQ
The CFTC has withdrawn its 2024 proposed ban on political and sports-related event contracts, withdrawn a 2025 staff advisory on sports-related contracts, and directed staff to draft new rules supporting lawful innovation in prediction markets.
Kalshi reported $161 million in trading on its Seattle–New England Super Bowl market as of Tuesday evening, with roughly 70% of traders favoring Seattle.
The National Football League has barred prediction-market commercials from airing during the Super Bowl.
Massachusetts and Nevada have filed suit against prediction markets, nine other states have sent cease-and-desist letters, and New York Attorney General Letitia James issued a consumer warning.
Americans are expected to wager a record $1.76 billion on the Super Bowl, according to the American Gaming Association.
History
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