Former CFTC Chair: After Clarity Act Stalls, Crypto Regulation Urgently Needs More Durable Rules, Prediction Market Boundaries May Be Drawn by Supreme Court

BlockBeats news, September 29: Former U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam said in an interview with Crypto In America that as prediction markets explode in growth, Congress urgently needs to clarify the boundary between risk management and gambling, and related litigation may ultimately reach the U.S. Supreme Court.

Behnam also pointed out that after the Clarity Act failed to advance in the Senate, the CFTC relying on existing authority to regulate spot markets is like "patching things together with tape and paper clips," and regulators urgently need to establish more durable rules.