CFTC opens rulemaking and advisory to bring prediction markets, including crypto, under Part 38 oversight

The Commodity Futures Trading Commission issued an Advance Notice of Proposed Rulemaking (ANPRM) and a Division of Market Oversight staff advisory to build a comprehensive regulatory framework for prediction markets and has opened a public comment process, reflecting a surge of industry interest over the past year. CFTC Chair Michael Selig said the agency has exclusive jurisdiction and opened prediction‑market rulemaking to public comment ^{[1] [2] [3]}.

The staff advisory directs designated contract markets that list event contracts to apply full Part 38 oversight and provides guidance for exchanges that list event contracts, with particular attention to sports and other sensitive event bets ^{[4] [1]}.

The ANPRM asks for input on how existing derivatives law should apply to prediction markets and signals the CFTC's move toward permanent rules for oversight; coverage also notes the guidance could affect blockchain‑based platforms and that some outlets report the framework may allow self‑certification of event contracts under certain conditions ^{[1] [5] [6]}.

The agency has formally invited public comment through the ANPRM and advisory process as it develops tailored rules for prediction markets ^{[1] [2] [3]}.