The Commodity Futures Trading Commission is proposing to formally define event contracts, including those tied to sports, politics, culture and weather, as swaps, in a change the agency says would confirm its exclusive jurisdiction over contracts traded on prediction markets.
Online sports betting has generated over a billion in tax revenue for New York, but prediction markets could take a bite out of that.
A leader of the Church of Jesus Christ of Latter-day Saints says an explosion in online prediction markets and sports betting is fostering greed among young people.
A leader of the Church of Jesus Christ of Latter-day Saints says an explosion in online prediction markets and sports betting is fostering greed among young people.
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