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CFTC Can’t Tell the Difference Between Sports Betting and Derivatives Trading
WASHINGTON, D.C.— Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement after the Commodity Futures Trading Commission (CFTC) proposed a rule that treats event contracts on sports, elections, and pop culture as financial derivatives and adopted a rule that attempts to distinguish ‘casino-style gambling products’ that it says are not swaps from
Senate Hearing on Sports Betting Shows CFTC Should Not Regulate Gambling
WASHINGTON, D.C.— Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement following a Senate hearing on sports betting: “When Americans wager on Kalshi and Polymarket on the outcome of hockey or football games, they overwhelmingly view it as sports betting, not trading in financial derivatives. They recently made this view known to
Kalshi’s Site Sure Looks Like Sports Betting
WASHINGTON, D.C.— Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with Better Markets’ new Fact Sheet entitled “Everyone Should Go on Kalshi and See for Themselves Whether It Looks Like Sports Betting or Derivatives Trading”: “When Kalshi wanted to allow people to bet on elections through so-called event contracts, we warned