CFTC Proposes Rules to Separate Prediction Markets From Casino Gambling

The CFTC's move is less about defining gambling than about pre-empting state oversight, and that jurisdictional claim is the real stake. Prediction venues and their state regulators both face a period of ambiguity while the line between event contracts and games of chance remains contested. Whether the Supreme Court ultimately settles federal-versus-state authority here is the open question, and it will shape how US event markets are built and where they can operate.