Forbes contributors publish independent expert analyses and insights. I write about legal issues in sports and gambling. Key to Kalshi’s recent success is its broad framing of the “relevant field” for ...

Dan Berkovitz said event contracts should serve hedging or price-discovery functions, casting doubt on whether sports contracts meet Commodity Exchange Act standards. Berkovitz questioned whether ...

The CFTC is proposing amended rules that support the sports-related event contracts offered by federally regulated prediction markets. There are, however, some restrictions proposed as well. A federal ...