Caroline Pham, president Donald Trump, said the U.S. Commodity Futures Trade Commission’s legal campaign against forecasting market platforms such as Polymarket and Kalshi cannot be simply shut down.
Pham says the agency will Gather experts to attend the roundtableabout next month, this may be a matter of how the committee responds to how companies that bet on activity contracts should respond to regulations and oversight. She noted that despite her recent opposition to former chairman Rostin Behnam’s law enforcement stance on the forecast market, including bets on sporting events and American political outcomes, the agency has gone on its path to easily reverse. Too far.
“Unfortunately, the improper delays and anti-innovation policies over the past few years have severely limited the CFTC’s ability to shift to common sense adjustments in the forecast market,” Pam said. “Uncertainty and improper constraints on new governments.”
The roundtable was established “to create an overall regulatory framework that can both promote a thriving forecast market and protect retail customers from binary option fraud such as deceptive and abusive marketing and sales practices.”
When a U.S. federal judge ruled in the second half of last year that the agency could not stop the company from listing contracts, the CFTC lost its initial case against Kalshi. However, the agency appealed to the High Court, where Carsey argued Only Congress can stop gambling.
Read more: CFTC fine encrypted gambling service POLMARKET $1.4 million unregistered swap
The CFTC takes a stand by rules, orders and law enforcement efforts, such political betting is not allowed under derivative laws, and the agency is not able to manipulate these markets by police – basically thinking that this must be an electoral policeman. Behnam’s agency has only a few days left to chair, seeking information about Polmarket customers from Crypto Exchange Coinbase.
In language compared to Behnam’s resistance, Pham said predicting the market “is an important new area of evaluating emotions using the power of the market to determine the probability that it can bring truth to the information age.” She added that the agency needs to “break down”. its past hostility”.
Read more: Sources say
Pham is operating the agency in a case where Trump has not named permanent nominees to seek Senate confirmation of the takeover. So far, the president has selected responsibilities only for his cousin regulators, the Securities and Exchange Commission. Such confirmation can take several months, so whether Pham is a leader in permanent work will have time to achieve some policy goals at the CFTC.
