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00:02The Commodity Futures Trading Commission is investigating whether prediction market platform
00:07Kalshi failed to properly notify the agency of proposed event contracts, according to CNBC.
00:13Kalshi described the issue involving weather-related contracts as a minor filing error
00:18and said it is working with the CFTC to resolve it. The CFTC did not immediately respond to
00:24CNBC's request for comment, while Kalshi declined to comment on possible charges.
00:30Politico first reported the investigation Tuesday and said charges could come soon.
00:34Prediction markets can self-certify contracts without prior CFTC approval if they comply
00:40with federal law. The investigation comes amid growing regulatory scrutiny of prediction markets.
00:45In August, the CFTC ordered Kalshi to remove sports-related mention markets while it
00:50investigated contracts, allowing users to trade on what individuals might say during broadcasts
00:56or speeches. For all things money, visit Benzinga.com.
