CME's Duffy Clashes With Kalshi and the CFTC Chair Over Prediction Market Manipulation
9 Articles
9 Articles
CME vs Kalshi: the prediction market fight that just went personal at the CFTC
CME Chairman Terry Duffy and Kalshi co-founder Luana Lopes Lara traded insults at a CFTC roundtable over whether prediction markets are legitimate financial infrastructure or carnival games. The confrontation is the public face of a deeper regulatory battle between federal…
CME's Duffy Clashes With Kalshi and the CFTC Chair Over Prediction Market Manipulation
A Commodity Futures Trading Commission advisory meeting turned into a public squabble Thursday, with CME Group Chairman and CEO Terrence Duffy clashing first with CFTC Chairman Michael Selig and then with Kalshi co-founder and COO Luana Lopes Lara over whether prediction markets are being policed seriously enough. Duffy told the Innovation Advisory Committee he was concerned about the volume of self-certified event contracts and the manipulation…
CFTC Roundtable Exposes Regulatory Rift Over Prediction-Market Risks
Prediction-market executives clashed Thursday (Aug. 20) over how regulators should police manipulation and insider trading, exposing a widening divide between established derivatives exchanges and newer event-contract platforms. The confrontation occurred during a Commodity Futures Trading Commission Innovation Advisory Committee meeting in Washington, where executives from traditional finance, crypto and prediction-market companies debated whet…
CME CEO vs Kalshi COO: 'Learn About Credible Markets'
A Commodity Futures Trading Commission advisory meeting exposed a deep disagreement over how prediction markets should be regulated, with CME Group CEO Terrence Duffy questioning whether some event contracts are too vulnerable to manipulation. Duffy told the CFTC Innovation Advisory Committee on Thursday that he was concerned about the volume of contracts entering the market through self-certification and whether some events can be traded fairly…
CME's Duffy clashes with CFTC, Kalshi over prediction market
The confrontation that broke out on Thursday at a CFTC-led meeting could be seen as more than a play for regulation. Prediction markets like Kalshi and Polymarket increasingly tap into crypto settlement systems, while the regulator involved in the conflict is deciding which approach to take for regulating event contracts and perpetual futures in the US. The stakes are quite high as the size of the prediction market ballooned to $63.5 billion in …
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