The U.S. CFTC proposed to ban event contracts that bet on the outcomes of political activities

ChainCatcher news, according to CoinDesk, the Commodity Futures Trading Commission (CFTC) proposed on Friday to formally ban event contracts that bet on the outcomes of political activities, with three out of five commissioners in favor of the proposal. The public will have 60 days to comment on the potential rules.

Currently, prediction platforms such as PredictIt, Polymarket, Zeitgeist, and Kalshi offer users the ability to purchase contracts related to the outcomes of actual events, including elections and policy-making.