Dispute over the regulatory authority of prediction markets: who should have the final say?

Question

[Coin World] The head of a major compliant exchange recently expressed views on the regulation of prediction markets on a social platform. He believes that prediction markets should be regulated by the federal Commodity Futures Trading Commission, rather than allowing each state to govern independently. In his words, if state governments intervene, it essentially creates barriers for Americans, depriving them of the right to use competitive tools. This statement is not baseless - just recently, this exchange indeed filed lawsuits against Michigan, Illinois, and Connecticut, directly bringing this disagreement to court. The question of how to divide the regulatory authority over prediction markets seems set to become a hot topic in the future.

FUD_Whisperer · Accepted Answer

The state governments are really out of control. Everyone wants to be the regulatory parent, but the result is chaos in the market. Isn't it better to have unified rules at the federal level?

just_another_fish · Answer

It&#39;s the same old rhetoric again: federal centralization vs. state rights, a familiar topic. To put it bluntly, it&#39;s still about wanting less oversight, and there really are many tricks to file lawsuits.

MetaMasked · Answer

This guy just wants to break free from the constraints of the state government. I understand the idea of federal unity, but... can the whole trap of suing really win? To put it bluntly, it still depends on how the Americans judge.

Degen4Breakfast · Answer

To put it bluntly, it&#39;s just that the large exchanges want to bypass state regulations and implement a federal one-size-fits-all approach. It sounds fair, but who knows what tricks are behind it...

GateUser-3824aa38 · Answer

It&#39;s the same old story again, can federal regulation really protect us? Laughable, in the end, it&#39;s still the big exchanges that call the shots.

CryptoPhoenix · Answer

The issue of regulatory power, to put it bluntly, is just another round of competition between centralization and Decentralization, energy conservation for everyone.

Real opportunities are often hidden in the gray areas of the law. Only after enduring this wave of regulatory drama can we begin to see value return.

The state governments acting independently do indeed create barriers to innovation, but will a unified federal government solve the problem? I actually think this is building momentum for the next pump.

After such a long litigation, the hardest part is the restoration of the mindset of the exchange. Do you understand what it means to traverse cycles?

Instead of getting tangled up in who calls the shots, it&#39;s better to ask what this means for the future of the prediction market.

Before rebirth, one must go through the baptism of the court; waiting is the greatest virtue, brothers.

The struggle for regulation is essentially a contest for market discourse power, that&#39;s the game.

Having lost money, I understand too well that the places where the rules are unclear carry the greatest risk, so it&#39;s better to wait a bit longer.

SandwichTrader · Answer

Both the federal and state governments want to take control, but in the end, neither can operate effectively. It&#39;s yet another classic power struggle.

Dispute over the regulatory authority of prediction markets: who should have the final say?

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