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Politics

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Crypto

POLITICO: The CFTC may file charges against Kalshi involving the filing of dozens of prediction market contracts

According to POLITICO, the U.S. Commodity Futures Trading Commission (CFTC) is investigating whether prediction market platform Kalshi failed to comply with regulatory notification procedures for dozens of proposed new contracts and has issued a warning to Kalshi about possible enforcement actions. Kalshi responded that the issues involved procedural errors in the submission process for a small number of contracts, many of which have not yet gone live, and that the company is working to resolve them. The investigation has lasted for several months and focuses on the self-certification mechanism for new contracts in prediction markets. Under current regulations, exchanges only need to declare to the CFTC that new products meet relevant regulatory requirements, and they can go online for trading as soon as the next day without obtaining explicit approval. The CFTC warned prediction market operators in July not to use overly broad language in new product certifications. Meanwhile, the CFTC is also investigating whether Polymarket violated requirements in a 2022 settlement that restricted U.S. users from using its platform. U.S. prediction markets are facing heightened regulatory scrutiny as Democrats prepare to step up oversight of the industry after the midterm elections.

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Politics

The Guardian view on rough sleeping: Burnham’s laudable target is in danger of being missed | Editorial

Energetic mayors and councils can help street homeless people to rebuild their lives. But the underlying affordability crisis needs tackling too Bringing an end to rough sleeping was among Andy Burnham’s first pledges after entering Downing Street – as it was when he became mayor of Manchester. With temperatures dropping, and frosts expected, winter night shelters across the UK are up and running. But an ongoing acute shortage of suitable housing and the latest tranche of early prisoner releases mean ministers know that the prime minister’s laudable target is in danger of being missed. The off

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