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U.S. CFTC eases rules on political, sports prediction markets; state enforcement tightens

The U.S. Commodity Futures Trading Commission has eased its approach to prediction markets on political and sports outcomes. Chair Michael Selik said the agency will withdraw a Biden-era prohibition on political and sports contracts and revoke a related 2025 regulatory alert. He said the CFTC will pursue responsible innovation and regulatory clarity and develop guidance based on the Commodity Exchange Act. State-level enforcement is tightening, including actions in New York, Nevada and Connecticut.

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NCAA urges halt to prediction markets on college sports

The U.S. National Collegiate Athletic Association has moved to curb the spread of prediction markets tied to college sports. It asked the Commodity Futures Trading Commission to immediately halt such markets and strengthen protections. NCAA President Charlie Baker told CFTC Chairman Michael Selik that trading should be paused until strong safeguards for student-athletes are in place. He said rapid growth is increasing harassment and worsening gambling problems, and noted that prediction markets can allow participation from age 18.