Columbia Law analysis says CFTC proposal for restricting some event contracts falls short
A Columbia Law School analysis published June 16 argues that the CFTC's strategic proposal for restricting some event contracts falls short. The piece focuses on the Concerning Event Contract Section, which provides the CFTC with authority to prohibit event contracts on Enumerated Subjects.
Suggests the CFTC's current framework for limiting certain event contracts may be legally or structurally insufficient, which could force the agency to revise its approach before finalizing rules that would affect Kalshi, ForecastEx, and other regulated platforms.
The CFTC now faces external scrutiny of its rulemaking logic from Columbia Law while simultaneously battling state preemption cases in New Mexico and Rhode Island, coordinating insider-trading enforcement with the DOJ, and policing Kalshi and Polymarket compliance across multiple regulatory fronts.