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Better Markets alleges CFTC pressure on platforms over state access

Better Markets on November 6 accused the CFTC of directing platforms to explain within 30 days why they cannot serve all 50 states and threatening enforcement against firms that comply with court-ordered geofencing. The group cited CFTC press release 9323-26 and a recent New York appeals ruling that could lead to geofencing in New York and Connecticut.

Better Markets accused the CFTC on November 6 of pressuring prediction-market platforms to maintain nationwide access despite court-ordered geographic restrictions, according to NJToday.

The group said the regulator directed platforms to explain within 30 days why they cannot serve all 50 states. It also alleged that the CFTC threatened enforcement against firms that comply with court-ordered geofencing.

Competing demands on platform access

Better Markets cited CFTC press release 9323-26 in making its allegations, according to NJToday. The account provided does not include the release’s text or a response from the regulator.

The group also pointed to a recent New York appeals ruling that could lead to geofencing in New York and Connecticut. That potential outcome is distinct from a finding that restrictions are already in place in either state.

What it means for prediction markets

  • Access is the immediate issue: The dispute concerns whether platforms can serve users in all 50 states and how they respond to geographic restrictions imposed by courts.
  • The 30-day deadline warrants attention: Better Markets described it as a requirement to explain limits on nationwide service, not as a confirmed deadline for implementing geofencing.
  • The enforcement claim remains an allegation: The available account attributes the claim to Better Markets; it does not establish that the CFTC has taken enforcement action against a firm for following a court order.
  • New York and Connecticut are jurisdictions to watch: The cited appeals ruling could affect platform access in those states, but the supplied material does not establish when or whether geofencing will follow.
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    NJToday
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