The U.S. Commodity Futures Trading Commission (CFTC) is set to propose a ban on derivatives betting on U.S. elections, sports, awards contests, calamities, and other major real-world events. This decision, highlighted in a series of statements and reports, reflects the CFTC's intent to regulate event contracts more stringently. The proposed rule aims to prevent the use of derivatives for gambling on political outcomes and other significant events, seeking to give the ban a stronger basis in law. The move has sparked a significant conversation within regulatory and political circles, with a CFTC vote showing a split decision of 3-2 along party lines.
