Former CFTC Chair: Prediction Market Boundaries May Be Decided by the Supreme Court, Crypto Regulation Needs More Durable Rules

Odaily News: Former U.S. Commodity Futures Trading Commission Chairman Rostin Behnam said that as prediction markets grow, Congress needs to clarify the boundary between risk management and gambling, and related litigation may ultimately reach the U.S. Supreme Court.

He noted that after the Clarity Act failed to advance in the Senate, the CFTC relying on existing authority to regulate spot markets is like "patching things together with tape and paper clips," and regulators need to establish more durable rules.