Nancy Marshall-Genzer
๐ค SpeakerAppearances Over Time
Podcast Appearances
I'm Nancy Marshall-Genzer for Marketplace.
David, the Commodity Futures Trading Commission has filed a brief in a case involving Crypto.com and the Nevada Gaming Control Board.
Crypto.com allows users to bet on things like the Super Bowl and even economic indicators.
The agency says it should regulate prediction markets because they're a type of derivative contract that allows traders to speculate on various outcomes.
In an op-ed in the Wall Street Journal, the CFTC chairman Michael Selig says Congress gave his agency authority over these contracts and what he calls overzealous state governments are trying to undermine the agency.
Yeah, that's right.
And they say that means platforms like Crypto.com and Polymarket should have to follow state laws on gambling.
Nevada filed a lawsuit against Cauchy yesterday, and it says Cauchy doesn't follow state laws on underage betting.
Massachusetts has also sued Cauchy, and Utah has joined court briefs against the company.
Gambling is illegal in Utah.
Right.
On its website, Cauchy says it would be hard to deal with a patchwork of different state regulations.
It wants one federal regulator, the Commodity Futures Trading Commission.
But some former CFTC officials say the agency doesn't have the expertise or staff needed to regulate prediction markets.
TrumpRx will initially offer 40 medications from five manufacturers, ranging from inhalers to insulin, fertility, and weight loss medications.
A White House fact sheet says more drugs will be made available in the coming months.
You won't be buying your medications right on TrumpRx.
Instead, it's a hub that points you to participating manufacturers' websites.
TrumpRx offers coupons for some drugs that consumers take to their pharmacies.
You still need a prescription, and you can't use your insurance to shop on TrumpRx.