By Pratik Chougule, Mick Bransfield, and Solomon Sia In its proposed rule on events contracts, the CFTC issued a strong denunciation of war markets, but explicitly opted not to define war. This makes little sense to us. Without a definition of war, event contract platforms will have little guidance on whether they can offer markets …
By Pratik Chougule, Mick Bransfield, and Solomon Sia The definition of gaming as it pertains to event contracts is ambiguous. While we favor as a policy matter a relatively narrow definition of gaming, we believe that each of the commissioners, as well as lawyers representing the CFTC, Kalshi, and various public interest groups, have all …
Gaming Law Should Not Prohibit “Mention” and Legal Markets Read More »
By Pratik Chougule, Mick Bransfield, and Solomon Sia Although we would favor a more laissez-faire approach to event contracts than what the CFTC has pursued, we believe that a lack of regulatory certainty and clarity is perhaps as great an obstacle to the development of the event contract space as are regulations themselves. The absence …
Regulatory Ambiguity Harms the Event Contract Space Read More »
By Pratik Chougule, Mick Bransfield, and Solomon Sia The CFTC remains the federal agency best positioned to exercise jurisdiction over event contracts. Since 1992, when CFTC-registered exchanges increased their listing of event contracts, the Commission has gradually expanded its jurisdiction over the space. It is true that event contracts do not fall within the core …
The CFTC Remains the Best Agency to Regulate Event Contracts Read More »
info@coalitionforpoliticalforecasting.org 202-860-4995 8 August 2024 Submitted via CFTC portal Commodity Futures Trading Commission Three Lafayette Centre 1155 21st Street NW Washington, D.C. 20581 Re: Event Contracts, RIN number 3038-AF14 We are writing on behalf of the Coalition for Political Forecasting in response to the CFTC’s request for comments on its proposal on event contracts. The Coalition …
By Pratik Chougule Kalshi’s proposal to offer election contracts has not only been rejected by the CFTC, it has resulted in even stricter regulations against political betting. Kalshi’s decision to persist with a strategy that keeps inviting backlash is symptomatic of a broader issue. The company’s incentives are, at best, imperfectly aligned with those of …
By Pratik Chougule The CFTC’s second public comment period on Kalshi’s proposed election contracts received seven times the number of comments it got during its first comment period back in August 2022. The vast majority of these comments are against Kalshi’s proposal. In the first 26 days of the 30-day comment period, the CFTC only …
By Pratik Chougule During the second CFTC comment period on Kalshi’s proposed election contracts, the Center for American Progress (CAP) submitted a letter in opposition to the proposal. What’s significant about this to me is that CAP, unlike Public Citizen, is not a grassroots movement. They’re real insiders. While CAP is explicitly left-wing, they’re also …
The Center For American Progress Denounces Election Contracts Read More »
AFP News journalist Nick Roll interviewed Coalition for Political Forecasting executive director Pratik Chougule in his recent report on how Americans are betting on the 2024 U.S. elections. Below is an excerpt: Political gambling expert Pratik Chougule…cohosts a betting podcast, and started an advocacy group to push for legalization. “I was a pretty true believer …
Long-time prediction market trader Chris Gillett interviewed Pratik Chougule about the Coalition for Political….