Page 29 - 期货和衍生品行业监管动态（2026年2月）

期货和衍生品行业监管动态

and individuals to hedge event-driven risks, enable investors to manage portfolio

exposure, and provide the public with information about the outcome of future events.

These products are commodity derivatives and squarely within the CFTC’s regulatory

remit. As I’ve said before, the CFTC has the expertise and responsibility to defend its

exclusive jurisdiction over commodity derivatives, and that’s exactly what we’ll do.”

The amicus brief outlines the legal history of the CFTC’s exclusive jurisdiction

over all commodity derivatives markets, including prediction markets. Over the years,

courts and Congress have established and affirmed the CFTC’s role in regulating

these markets. States and other federal entities do not have the authority to further

regulate markets within the CFTC’s exclusive jurisdiction, and attempting to do so

would have destabilizing economic effects.

The CFTC first officially recognized event contracts in 1992 when it allowed the

Iowa Electronic Markets, a futures market at the University of Iowa in which traders

can buy and sell contracts pegged to events such as presidential elections and

corporate earnings. In the wake of the 2008 financial crisis, Congress expressly

granted the CFTC comprehensive authority over any such contract based on a

commodity, which is broadly defined in statute. The Commodity Exchange Act is

designed to account for innovation in the financial markets, allowing for new and
emerging use cases within CFTC-regulated markets.

https://www.cftc.gov/PressRoom/PressReleases/9183-26

9. 美国商品期货交易委员会执法部发布预测市场咨询意见（2026 年 2 月 25 日）

美国商品期货交易委员会（CFTC）执法部发布了一份咨询意见，此前其公

开披露了两起滥用非公开信息和欺诈的执法案件，涉及在指定合约市场（DCM）

KalshiEX 上交易的预测市场（也称为事件合约）。具体如下：

 2025 年 5 月，社交媒体帖子中包含的视频显示一名政治候选人在 Kalshi

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