- Regulator is drafting a proposal for events contracts
- Agency pushes to clarify restrictions on binary options
A top Wall Street regulator is considering an outright ban on using derivatives to bet on US elections as part of a crackdown on so-called event contracts, according to people familiar with the plans.
The Commodity Futures Trading Commission’s draft proposal would boost oversight of the contracts that have let people wager on real-world outcomes such as monetary policy, lunar landings and music awards. Beyond elections, the CFTC may also prohibit some contracts on sports and calamities such as global health crises, said the people, who asked not to be identified discussing the internal deliberations.
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