The Commodity Futures Trading Commission is taking on the unofficial role of 'elections cop.”
With the U.S. presidential election less than two weeks away, the bets are flooding in on former President Donald Trump versus Vice President Kamala Harris. In response, the Commodity Futures Trading Commission is taking on the unofficial role of"elections cop,” as announced by agency chairman Rostin Benham during a recent interview withto proceed with its political prediction-market contracts, lifting a ban by the CFTC and making it the first federally regulated exchange in the U.S.
In light of the court’s decision, Benham stressed that the CFTC is committed to overseeing political derivative markets, despite its ongoing efforts to shut down the sites. “While we have this ongoing legal challenge, we will allow them, and we’re going to do what we can to protect the integrity of the markets,” commented Benham, adding that “The commission has actually been pretty consistent for the better part of a decade that we don’t believe listing event contracts on political elections is legal.” , as good traders tend to fact-check before buying or selling, making them a powerful tool for exposing the truth.
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