The FinReg Pod

Author: Lee Reiners

Go behind the scenes of some of the most interesting topics at the intersection of finance, law, and public policy. Hosted by Lee Reiners.
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Language: en

Genres: Business, Government

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Betting on Elections
Wednesday, 30 October, 2024

Dan Berkovitz and Laurian Cristea discuss the regulatory and ethical challenges surrounding political event contracts. They explore the history, recent legal developments, and the future implications of betting on political outcomes, especially as the CFTC tightens its stance on these controversial markets. Lee’s X: @leereiners Related Links: CFTC proposed amendments to its rules concerning event contracts in certain excluded commodities: https://www.federalregister.gov/documents/2024/07/05/2024-14610/event-contracts Elections Bets Go Live on Kalshi After CFTC's Court Loss: https://news.bloomberglaw.com/securities-law/betting-on-us-congress-elections-outcome-green-lit-by-judge US appeals court clears Kalshi to restart elections betting: https://www.reuters.com/legal/us-federal-court-upholds-ruling-letting-kalshiex-list-election-betting-contracts-2024-10-02/ Statement of Chairman Rostin Behnam Regarding CFTC Order to Prohibit Kalshi Political Control Derivatives Contracts: https://www.cftc.gov/PressRoom/SpeechesTestimony/behnamstatement092223 A Mystery $30 Million Wave of Pro-Trump Bets Has Moved a Popular Prediction Market: https://www.wsj.com/finance/betting-election-pro-trump-ad74aa71