CFTC gives prediction markets 30 days to drop state geoblocks
AI summary
The CFTC issued guidance stating that federally regulated prediction markets generally cannot geoblock traders based on their U.S. state, giving exchanges 30 days to lift such restrictions or justify why they cannot. The guidance arrived a day after a federal judge ordered Kalshi to block sports contracts. Traders would care because clearer federal rules for prediction markets could expand access to event-based trading platforms that increasingly overlap with crypto betting and derivatives products.
