Updated
Updated · Better Markets · Jun 15
Better Markets Backs Ohio Bid to Regulate Kalshi, Challenging CFTC's Role in $0 Online Betting Oversight
Updated
Updated · Better Markets · Jun 15

Better Markets Backs Ohio Bid to Regulate Kalshi, Challenging CFTC's Role in $0 Online Betting Oversight

3 articles · Updated · Better Markets · Jun 15

Summary

  • Better Markets filed an amicus brief backing Ohio’s authority to regulate Kalshi and other online sportsbooks, arguing federal courts should curb the CFTC’s support for those platforms.
  • The group said the CFTC is using taxpayer funds to promote what it calls illegal, unregulated online casinos instead of policing commodities and derivatives markets tied to essentials such as gas and groceries.
  • Ohio’s case centers on whether sports-event contracts marketed as prediction markets fall under federal derivatives oversight or state gambling rules designed to limit problem gambling.
  • Better Markets argued Congress never meant to authorize nationwide gambling through the CFTC and said the agency is too small and ill-equipped to regulate it, warning of insider trading, addiction and election-related risks.

Insights

As federal courts clash over prediction markets, who will ultimately decide their fate: Congress or the Supreme Court?
With insider trading already exposed, can regulators effectively police these new billion-dollar digital betting platforms?
Are prediction markets a tool for economic insight or a new threat to election and sports integrity?