New York State Representative: Regulators should not try to ban election prediction markets, but focus on regulating

Odaily Odaily News: New York Congressman Ritchie Torres believes that US regulators should not try to ban election prediction markets, but should focus on regulating these contracts to prevent bad actors from gaining market share. Ritchie Torres wrote in a recent letter to Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC): "I am asking the Commission to consider developing a plan to regulate these markets rather than prevent them from existing in regulated markets. If the CFTC works with regulated registrants to enhance the integrity of elections and protect consumers from the dangers of widespread adoption of illegal and unregulated forecast markets, it will be more effective." (Cointelegraph)