Tag: cftc
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CFTC Declares ‘Emergency’ To Protect Kalshi Versus New York
The Commodity Futures Trading Commission invoked its “emergency authority” after New York’s lawsuit against prediction-market company Kalshi, escalating the federal government’s fight with states over sports betting. On Tuesday, the CFTC announced that it ordered KalshiEX to keep operating under federal derivatives law after Kalshi notified the agency of a “market emergency.” The claimed emergency…
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‘Responsible Engagement’ – DraftKings’ New Gambling Addiction Corporate Speak
It appears that “responsible gaming” is no longer in vogue. Here comes “responsible engagement.” Well, at least regarding so-called “prediction markets,” which DraftKings plans to offer soon through its upcoming product, DraftKings Predictions. In a shareholder letter released on Nov. 6, DraftKings CEO Jason Robins explained why his company will enter the prediction market space…
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The Decline Of ‘Responsible’ Sports Betting—But What’s Next Is Worse
The growing push to reframe sports betting as trading, predicting, or investing, has major implications for the “responsible gambling” model adopted by states. The word “betting” itself could be considered a euphemism for gambling, but the new terminology is even more troubling. The so-called “prediction market” sector, currently led by Kalshi and Polymarket but with…
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