SnakeBank

#PredictionMarketsCFTCBacking 🔥 #PredictionMarketsCFTCBacking: Federal Support for Crypto & Event Markets 🔥 The U.S. Commodity Futures Trading Commission (CFTC) is making headlines by backing prediction market platforms like Kalshi, Polymarket, and Crypto.com against state bans. These markets let users trade contracts based on real-world outcomes, from elections to economic indicators. While some states argue they are unlicensed gambling, the CFTC asserts that federal law gives it exclusive authority over these markets. Recently, the CFTC filed an amicus brief supporting Crypto.com in its appeal against Nevada’s restrictions and publicly defended the platforms as regulated financial products, not gambling. This move signals a shift toward federal oversight and could set a precedent for how prediction markets operate across the U.S. For traders, developers, and crypto enthusiasts, this is a critical moment. Federal backing could unlock innovation, ensure regulatory clarity, and solidify the legitimacy of prediction markets nationwide. #PredictionMarkets #DeFi: #blockchains