
the prediction market fight that just went personal at the CFTC
CME Chairman Terry Duffy and Kalshi co-founder Luana Lopes Lara traded insults at a CFTC roundtable over whether prediction markets are legitimate financial infrastructure or carnival games. The confrontation is the public face of a deeper regulatory battle between federal and state authorities, incumbent exchanges and startups, and two incompatible visions of what derivatives markets should look like. The CFTC roundtable on prediction markets was supposed to be a policy discussion. It became a fight. Terry Duffy, the chairman of CME Group, the world’s largest futures exchange, sat across from Luana Lopes Lara, the co-founder of Kalshi, a prediction market…






