Robinhood Markets (NASDAQ:HOOD) could nearly quadruple its prediction-market revenue this year, just as federal regulators hand the booming business its first rulebook.
A veteran Wall Street risk manager says that rulebook is backward.
The CFTC’s June 10 proposal sets up a contract-by-contract “public interest” review, its first attempt to define which event contracts can stand.
Chairman Mike Selig calls it clear rules of the road, but the trigger categories, gaming chief among them, cover most of the industry’s volume, including the World Cup betting fueling the boom.
A Wall Street Veteran Calls It Backward
