CME CEO and the President of the United States of America/CFTC and executives of Kalshi are in a heated debate about predicting market regulation

On 21 August, according to The Block, at the meeting of the CFTC Innovation Advisory Committee, the Chicago Commodity Exchange CEO Terrence Duffy and CFTC Chairman Michael Selig and Chief Operator Luana Lopes Lara of Kalshi had a heated exchange on forecasting market regulation issues. Duffy noted that part of the forecast market contracts were vulnerable to manipulation, noting in particular the possible manipulation of contracts related to the Trump State of the Nation address and the departure of President Maduro of Venezuela. Selig then interrupted stating that the products were not listed in the United States, “it was false news”. Duffy replied, “We can argue, and I would be happy”. They also asked whether CME was facing market manipulation, and Duffy said, “I have more employees in the supervisory sector than you and the company as a whole”, Lopes Lara replied, “Maybe you should learn efficiency”, and Duffy responded, “Maybe you should learn what a credible market is”. The conflict coincided with a competition between federal and state regulators for projected market regulation, and CFTC has initiated proceedings and proposed a draft regulatory framework for several states。