Bitwise, Roundhill, GraniteShares apply to SEC for prediction market ETFs

13 articles · Updated · CNBC · Apr 24

The firms seek approval to launch ETFs tracking outcomes of major US elections, including the 2028 presidential race and this year’s congressional midterms.
These ETFs would allow investors to bet on political outcomes through brokerage accounts, with potential for total loss if predictions are incorrect, according to SEC filings.
While similar bets are available on platforms like Kalshi and DraftKings, the ETF format aims to expand access; legal debates continue over regulation of prediction markets and sports wagering.

With regulators clashing, what hurdles must election-betting ETFs clear to finally reach the market?

How can regulators prevent government insiders from exploiting these new political prediction markets?

Is betting on political outcomes a sophisticated investment or simply gambling in disguise?

As states lose tax revenue, can their legal challenges halt the federal push for prediction markets?

What are the hidden societal risks of turning democratic elections into tradable financial assets?