TREE NEWS update: All 11 Democratic members of the Senate Banking Committee asked Chairman Tim Scott for a public hearing on prediction markets, arguing that some event contracts tied to corporate performance could fall under SEC oversight. The letter came as committee Republicans met with Kalshi CEO Tarek Mansour.
Senate Banking Democrats Seek Hearing on Prediction Markets
AI take
The significance here is jurisdictional, not partisan: Democrats are arguing that certain event contracts belong in the SEC's lane rather than the CFTC's, which would redraw the regulatory map for prediction markets. That the request landed the same day Republicans met with Kalshi's CEO suggests the committee is being pulled in two directions at once. Whether Scott schedules a hearing is the open question, and whether the SEC-versus-CFTC framing gains traction beyond this letter is worth watching.
Generated by AI for reference only.
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