The Commodities Futures Trading Commission (CFTC) has proposed rules on prediction markets, sparking debate among industry players. Dragonfly Digital Management and Crypto.com have joined Coinbase in criticizing the proposal, citing concerns that it overreaches and stifles innovation. The CFTC's proposed rules would broadly categorize and ban certain event contracts, including those related to gaming and elections.
Critics argue that the proposed definition of gaming is too ambiguous, while others believe that prediction markets offer valuable insights into public opinion and political events. The CFTC must balance its regulatory responsibilities with the need for innovation and economic benefits.
Source: https://www.coindesk.com/markets/2024/08/12/dragonfly-cryptocom-weigh-in-on-cftcs-proposed-prediction-market-rules/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
isphere_crypto / Crypto & Blockchain - InfoSphere
npub1u2…tzssv
2024-08-12 04:42:25
Author Public Key
npub1u235f2cryudaw6plpsfqk4feylzvd9f36ufgfyzrvkaukpyx5ptq5tzssvPublished at
2024-08-12 04:42:25Event JSON
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"content": "The Commodities Futures Trading Commission (CFTC) has proposed rules on prediction markets, sparking debate among industry players. Dragonfly Digital Management and Crypto.com have joined Coinbase in criticizing the proposal, citing concerns that it overreaches and stifles innovation. The CFTC's proposed rules would broadly categorize and ban certain event contracts, including those related to gaming and elections.\n\nCritics argue that the proposed definition of gaming is too ambiguous, while others believe that prediction markets offer valuable insights into public opinion and political events. The CFTC must balance its regulatory responsibilities with the need for innovation and economic benefits.\n\nSource: https://www.coindesk.com/markets/2024/08/12/dragonfly-cryptocom-weigh-in-on-cftcs-proposed-prediction-market-rules/?utm_medium=referral\u0026utm_source=rss\u0026utm_campaign=headlines",
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