(CFTC), the federal agency that’s attempting to reclassify bets on everything from the existence of aliens to the point spread on an NHL playoff game as financial derivatives.
This legal maneuver would allow the platforms that offer these wagers (companies like Kalshi and Polymarket) to circumvent state and tribal gambling rules—protections like age restrictions, advertising controls, betting limits and taxes. The CFTC has undertaken an aggressive campaign—siding with betting companies—and going so far as to sue states that are trying to preserve their jurisdiction over gambling.
- Created on .