The Commodity Futures Trading Commission (CFTC) is seeking to formalize oversight of prediction markets through a proposal establishing guidelines for event contracts.
The measure is under review by the White House through the Office of Management and Budget and would eventually be opened to public comment, although details have not been released. Bloomberg first reported the development.
The proposal is expected to build on feedback from a spring consultation that drew more than 3,000 responses covering insider trading, contract prohibitions, and the larger architecture of prediction market oversight.
The rulemaking, if finalized, would mark the first comprehensive federal framework for event contracts and could reshape how platforms like Kalshi and Polymarket operate in the US.
A growing number of states are challenging prediction-market platforms, arguing that contracts tied to sports, elections, and other events function more like gambling than federally regulated financial derivatives.
