Commodities Futures And Trading Commission Is Allowing Sports Betting
• Starting in February 2025, the Commodities Futures Trading Commission (CFTC), with no Notice, and through an Acting Chairperson, started to allow so-called futures contracts on sporting events, and other events such as political elections and even weather events. • As we all know in Oklahoma, the CFTC is set up under the Department of Agriculture to regulate commodities contracts such as soy beans, corn, oil, pork, and all other types of agricultural and natural resources. • These new so-called “futures contracts” are a ‘yes/no’ bet on whether a specific outcome will occur. For instance, a yes/no bet on whether the Team A will beat Team B in the Super Bowl, or will “x” person be the next Speaker of the House of Representatives. • This is sports and events betting, not the more common Agricultural and Commodities trading regulated by the CFTC.
• These are bets with no underlying commodity at stake and are not regulated by experts at Tribal or State sanctioned sports book.
• Instead, these events contracts are currently available in ALL 50 States on the futures market along with agricultural and other products. • Since April 2025, These prediction markets side-step State and Tribal regulations, and have been involved in numerous scandal, regarding Venezuela, the Super Bowl Half-Time show, Iran War, and others. Prediction Markets clearly violate the long-standing public policies necessary for the safe regulation of gaming.
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