Comment on CFTC-2026-0331, CFTC-2026-0331-0001, Kate, Oh
Kate OhOpposeAdvocacy
Summary: A coalition of civil society organizations, including Public Citizen, opposes the CFTC's rulemaking on prediction markets. They argue that these markets are essentially gambling bets that fall outside the CFTC's legal jurisdiction and pose significant harms to consumers, democracy, and market integrity.
Please find our full comment in the attached file. We submit this letter to establish that the CFTC does not have, and cannot have, legal jurisdiction over what are essentially gambling bets that are regulated by the states and tribal authorities and to document the extraordinary harms that so-called prediction markets, where such bets are traded, pose to consumers and businesses, the financial system, and our democracy.
Sincerely,
Americans for Financial Reform Education Fund
Demand Progress Education Fund
Public Citizen