CME Group Chairman Terry Duffy and Kalshi co-founder Luana Lopes Lara clashed during a CFTC roundtable in Washington, D.C. Duffy criticized prediction markets as questionable and mocked Kalshi’s contracts, including the Nathan’s hot dog eating contest. Lara fired back by questioning CME’s own history of market manipulation issues. The confrontation occurs amid a regulatory battle between federal and state authorities over jurisdiction of prediction markets in the United States. Kalshi suffered a legal setback last week when a Washington judge ordered the company to stop offering contracts on sports, elections, and politics in the state.
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