Former Senator Dodd challenges CFTC prediction markets proposal citing congressional intent
Former U.S. Sen. Christopher J. Dodd is pressing the Commodity Futures Trading Commission to abandon a proposed rule on prediction… Continue reading Former Senator Dodd challenges CFTC prediction markets proposal citing congressional intent The post Former Senator Dodd challenges CFTC prediction markets proposal citing congressional intent appeared first on ReadWrite .
Former U.S. Senator Christopher J. Dodd is urging the Commodity Futures Trading Commission (CFTC) to abandon its proposed rule on prediction markets, contending that it deviates from the original intent of the Dodd-Frank Act. In a letter to CFTC Secretary Christopher Kirkpatrick, dated July 26, Dodd argues that the regulation could promote gambling through regulated derivatives markets rather than upholding the law's original purpose.
His letter comes after Dodd warned that the proposal "could well endanger consumers and promote speculation" and "contradict the language and intent of the Dodd-Frank Act."
Written by urgent.news from ReadWrite's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
