CNBC 'Squawk Box' & Bloomberg on Sports Betting
Gary's Amicus Argues that Congress Never Intended for the CFTC to be Federal Sports Betting Regulator
CNBC ‘Squawk Box’ Interview on Regulating Sports Betting 10:14
Read Bloomberg’s ‘Gary Gensler Says Kalshi Is Flat Wrong: Sports Bets Aren’t Swaps’
Gary filed an Amicus in Kalshi vs. Schuler in the U.S. 6th Circuit Court of Appeals regarding the case between Kalshi, Ohio, and Tennessee over the application of state gaming laws.
The case boils down to the question of what, if anything, Congress did in 2010’s Dodd-Frank financial reform with regard to sports betting. Kalshi contends that Congress made the CFTC a nationwide sports betting regulator and denied states their traditional police power to regulate gaming, including sports betting.
The answer—from someone who was there—is that Congress did nothing of the sort.
Also John Lothian’s posted ‘Gary Gensler has now Weighed in Directly on Prediction Market Debate’ with this fun AI generated image:
You can also listen to Gary & Simon discuss Prediction Markets in ‘Episode Five: Prediction Markets’