CFTC Approves New Rules Amid Criticism Over Election Betting and Kalshi Matter

The Commodity Futures Trading Commission (CFTC) has approved several new rules, including final amendments to Regulation 4.7 and a final rule regarding exemptions for Commodity Pool Operators, Commodity Trading Advisors, and Commodity Pools. These changes aim to simplify and enhance compliance requirements and submission processes. The CFTC's decision to allow betting on elections has been met with criticism, with concerns that it could invite malicious activities and undermine public confidence in the voting process. CFTC Chair Rostin Behnam has been criticized by Jim Jordan for allegedly overstepping the agency's statutory authority with its 2023 crackdown on political betting. Additionally, the CFTC's Part 40 final rule aims to simplify and enhance rule and product submission processes, and the Kalshi Matter remains a contentious issue.