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CFTC Seeks to Clarify Boundaries Between Gambling and Financial Markets / WSJ
”Regulators advanced a plan to ban derivatives contracts based on political elections, athletic competitions and awards contests, in a bid to clarify the boundaries between gambling and financial markets. The Commodity Futures Trading Commission voted Friday to propose a new regulation aimed at regulating event contracts, a small but fast-growing part of the markets in which investors can bet on the outcome of events. CFTC commissioners voted 3-2 to release the proposed regulation for public review, with the agency's three Democratic commissioners voting in favor and its two Republicans dissenting. The proposal won't take effect until commissioners approve a final version, a vote that is likely many months away.”
Excerpted from The Wall Street Journal / May 10, 2024
