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The proposed paragraph names sports, politics, cultural and weather events, and a companion interim final rule issued the same day puts casino-style gambling outside the definition. The agency adopts the Third Circuit's reasoning and argues against the Ninth and Sixth Circuits, in a dispute the Supreme Court has been asked to settle.
Seven Senate Banking Democrats wrote to Chairman Tim Scott asking that prediction markets be examined in a public, bipartisan hearing rather than the Republican-only roundtable held Wednesday morning with Kalshi's chief executive. Their letter points at Cboe's request to list all-or-nothing options on corporate earnings, a product they argue could reach the SEC's jurisdiction.
The letter of intent routes Apex brokerages' crypto prediction trades through Gemini Titan, the CFTC-registered exchange Gemini launched after its December DCM approval.
