Tag

Cftc

All articles tagged with #cftc

business1 day ago•15 min saved

Beast Editor Faces Kalshi Insider-Trading Allegations

An editor for MrBeast, Artem Kaptur, allegedly traded about $4,000 on Kalshi markets tied to Jimmy Donaldson’s videos, using nonpublic information to win bets with low odds. Kalshi flagged his results as anomalous, fined him over $20,000 and suspended him from Kalshi for more than two years; the case was referred to the CFTC. Beast Industries says it has a strict no-tolerance policy and has launched an independent internal investigation as Hollywood prediction markets gain traction.

via The Hollywood Reporter|

#artem-kaptur #business #cftc

business2 days ago•3 min saved

Kalshi fines MrBeast editor for insider trading, imposes two-year ban

Kalshi fined and suspended Artem Kaptur, an editor for MrBeast, for insider trading based on non-public information, with a $15,000 fine, $5,397.58 in profits returned, and a two-year Kalshi ban. In a separate case, Kalshi banned Kyle Langford for five years, fined $2,000, and ordered $246.36 in profits returned for betting on his California governor candidacy. Both cases were flagged by Kalshi’s surveillance system; the company has notified the CFTC and will donate the fines to a consumer-education nonprofit, underscoring ongoing regulatory scrutiny of insider trading on prediction markets.

via CBS News|

#business #cftc #insider-trading

business7 days ago•4 min saved

Nevada’s Kalshi clash tests whether prediction markets count as sports betting

Nevada regulators are pursuing civil action against Kalshi, contending its prediction-market contracts amount to illegal sports betting under state law, while Kalshi argues they are a regulated financial exchange; the fight has shifted from state court to federal court and highlights a broader national debate over whether prediction markets fall under gaming or financial regulation, with potential implications for their legality and reach across the United States.

via NBC News|

#business #cftc #kalshi

regulation7 days ago•10 min saved

Prediction Markets Enter a High-Stakes Regulatory War

The U.S. regulatory fight over prediction markets such as Kalshi and Polymarket is intensifying, with advocates arguing the platforms offer fair, investor-driven markets and regulators pressing for state-agnostic gambling laws; Kalshi operates nationwide while Polymarket, banned in 2022, has returned in a limited form. Dozens of lawsuits target Kalshi, the CFTC asserts exclusive authority, and lawmakers on both sides of the aisle are weighing actions—signaling a long, contentious battle rather than a quick resolution.

via WIRED|

#cftc #kalshi #polymarket

policy10 days ago•8 min saved

CFTC chief pushes federal oversight in clash over prediction markets and sports betting

CFTC Chair Michael Selig argues prediction markets are federally regulated, filing a court brief that counters state gambling laws and places Kalshi and Polymarket under federal oversight, a move that could reshape how sports betting and related platforms are governed.

via Politico|

#cftc #policy #prediction-markets

business10 days ago•3 min saved

CFTC Takes Federal Side in Prediction Market Fight Against States

The CFTC, led by Chairman Michael Selig, filed a friend-of-the-court brief backing Crypto.com and arguing that prediction markets fall under federal regulation rather than state gambling laws, signaling a major stance in the clash over how these platforms should be regulated as states like Massachusetts and Nevada push restrictions and industry advocates tout the markets as financial exchanges under CFTC oversight, with Kalshi reporting large trading volumes such as for the Super Bowl.

via NBC News|

#business #cftc #cryptocom

business10 days ago•69 min saved

Federal backing for Kalshi and Polymarket as states clamp down on prediction markets

The Trump administration signals support for Kalshi and Polymarket as several states move to ban prediction markets, highlighting a regulatory clash between federal backing and state restrictions under CFTC oversight.

via AP News|

#business #cftc #kalshi

business10 days ago•2 min saved

CFTC presses federal reach over prediction markets amid state challenges

The CFTC, led by Chair Michael Selig, filed an amicus brief in federal court asserting exclusive federal jurisdiction to enforce and regulate prediction markets, arguing these event contracts are swaps under CFTC rules. With nearly 50 active cases against platforms like Kalshi and Polymarket, the agency aims to curb state prohibitions and hints at new rules, while preparing to defend its authority in court, including a related Ninth Circuit case involving Crypto.com and the Nevada Gaming Control Board.

via CNBC|

#business #cftc #kalshi

business10 days ago•10 min saved

US Regulators Clash with Kalshi and Polymarket Over Booming Prediction Markets

Regulators and lawmakers across the US are escalating legal battles against prediction-market platforms Kalshi and Polymarket, arguing they operate like unregulated gambling and should face state licensing; the CFTC is defending its exclusive federal jurisdiction as lawsuits, injunctions, and new bills mount. The market has seen huge volumes (e.g., over $1B on Kalshi during the Super Bowl), spurring traditional sportsbooks to launch competing platforms. Courts are weighing whether these event-derivative contracts fall under federal commodities law or state gaming rules, with potential Supreme Court involvement. The debate centers on consumer protections, insider trading risk, and the future of a nationwide regulatory framework rather than patchwork state laws.

via The Guardian|

#business #cftc #kalshi

regulation13 days ago•7 min saved

Democrats Urge CFTC to Stay Out of Prediction Market Litigation

A group of 23 Democratic senators led by Adam Schiff urged the CFTC to refrain from weighing in on ongoing state and federal lawsuits over the legality of Kalshi and Polymarket, arguing the platforms lack protections and touch on prohibited events. The letter pushes the agency to bar certain contracts, while the CFTC maintains exclusive jurisdiction over derivatives, highlighting a broader regulatory clash as lawsuits unfold.

via WIRED|

#cftc #kalshi #polymarket

finance29 days ago•14 min saved

CFTC Chief Unveils Onshore Crypto Framework to Harmonize Regulation

CFTC Chair Selig unveils Project Crypto to modernize U.S. crypto regulation, harmonize rules with the SEC, enable onshore perpetual derivatives and tokenized collateral, create safe harbors for developers, and reduce regulatory fragmentation while preserving market integrity.

via Commodity Futures Trading Commission | CFTC (.gov)|

#cftc #crypto #finance

finance1 month ago•1 min saved

US Regulators Team Up to Streamline Crypto Rules and Strengthen Domestic Leadership

The SEC and CFTC will host a joint event at the CFTC headquarters on Jan. 27 to discuss harmonizing crypto rules and reinforcing the United States' position as a crypto leader. The event is open to the public and will be webcast on the SEC website; online attendance requires no registration, while in-person attendance requires advance registration.

via SEC.gov|

#cftc #crypto-regulation #finance

business1 month ago•3 min saved

Lawmakers push formal framework to govern crypto markets

U.S. senators unveiled a draft bill to create a formal crypto regulatory framework that would classify tokens as securities or commodities, grant the CFTC authority over spot markets, set rules on stablecoins and disclosures, and address banking industry concerns—though passage is uncertain as lawmakers debate provisions.

via Reuters|

#business #cftc #crypto

business2 months ago•2 min saved

Michael Selig Confirmed as CFTC Chairman Amid Growing Crypto Oversight

Michael Selig was sworn in as the 16th Chairman of the CFTC, bringing extensive experience in digital asset regulation and financial markets, and emphasizing the agency's role in overseeing innovation and stability in America's evolving commodity markets.

via Commodity Futures Trading Commission | CFTC (.gov)|

#business #cftc #digital-assets

politics3 months ago•21 min saved

Senate Ag Unveils Draft Crypto Bill Amid Market and Legislative Challenges

The Senate Agriculture Committee has released a draft of a bill to overhaul cryptocurrency regulation, focusing on empowering the CFTC to regulate digital commodities like bitcoin and ether, amid ongoing negotiations and concerns over bipartisan support and agency staffing. The legislation aims to clarify regulatory frameworks for the crypto market, with key issues including the composition of the CFTC and the influence of political and familial ties in crypto regulation. Meanwhile, other legislative and political developments include efforts to reopen the government, debates over hemp industry regulations, and internal Democratic leadership dynamics.

via Politico|

#cftc #crypto-regulation #cryptocurrency