CFTC Targets Election Betting Platform PredictIt

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The Commodities Futures Trading Commission withdrew a letter granting PredictIt permission to operate its not-for-profit online marketplace, where users can weigh in on potential outcomes of elections and financial events with money. The platform, established by the Victoria University of Wellington in New Zealand, was created for research and educational purposes, examining how markets can forecast real-world events. It had requested it be exempt from legal action at the hands of the CFTC and ...

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