"Coinbase argues that prediction markets, while appearing novel, are well within the existing statutory authority of the CFTC, meaning no new mandate is required for regulation."
"The company highlights that prediction markets function similarly to futures by aggregating dispersed information into prices, which helps participants hedge against uncertainty."
"Coinbase warns that allowing state-level intervention in prediction markets could create fragmentation, undermining the consistency of national oversight that the CFTC provides."
"The firm emphasizes that the CFTC's enforcement powers are crucial for maintaining a unified regulatory approach to derivatives, including prediction markets."
Coinbase Global Inc. is advocating for the U.S. Commodity Futures Trading Commission (CFTC) to regulate prediction markets as part of the existing derivatives framework. The company argues that event-based contracts already fit within current law and do not require new authority. It emphasizes that these markets aggregate information and allow for hedging uncertainty. Coinbase warns that state-level regulation could lead to fragmentation in interstate markets and stresses the importance of consistent national supervision.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]