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TechFlow News: On February 5, according to The Block, the U.S. Commodity Futures Trading Commission (CFTC) has formally withdrawn its 2024 proposed “event contract” rule, which would have banned political prediction market contracts. CFTC Chairman Michael S. Selig characterized the prior proposal as “excessive policy intervention” and announced that the Commission will develop a new framework to support “legitimate innovation.”
According to The Block, the U.S. Commodity Futures Trading Commission (CFTC) has formally withdrawn its 2024 proposed “event contract” rule, which would have banned political prediction market contracts. CFTC Chair Michael S. Selig called the prior proposal “policy overreach” and announced that the Commission will develop a new framework to support “legitimate innovation.”
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