Finance

CFTC Withdraws Proposal Banning Prediction Market Sports Betting

Chair of the Commodity Futures Trading Commission Michael Selig
Photographer: Eric Lee/Bloomberg

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By Miguel Ambriz

February 4, 2026 at 7:02 PM UTC

The head of the Commodity Futures Trading Commission said the agency has withdrawn a Biden-era proposal that called for prohibiting sports and politics-related wagers on prediction markets.

“The 2024 event contracts proposal reflected the prior administration’s frolic into merit regulation with an outright prohibition on political contracts ahead of the 2024 presidential election,” CFTC Chairman Michael Selig said in a statement.