Financial Regulation

December 07, 2023

Henry Burke Jeff Hauser Kenny Stancil

FOIA RequestPress Release CryptocurrencyEthics in GovernmentFinancial RegulationFintechRevolving Door

Press Release: The Revolving Door Project, A Government Ethics Watchdog, Alerts Media Of Possibility That CFTC Chair Rostin Behnam Is Considering Leaving Government To Cash Out In Private Industry

The Revolving Door Project, A Government Ethics Watchdog, Alerts Media Of Possibility That CFTC Chair Rostin Behnam Is Considering Leaving Government To Cash Out In Private Industry

August 17, 2023 | The American Prospect

Timi Iwayemi

Op-Ed 2024 ElectionEthics in GovernmentFinancial RegulationGovernanceRevolving Door

The CFTC Ponders Gambling on Democracy’s Future

As long as one party remains totally united behind a man who attempted to overthrow the government by force, was the most corrupt president in American history, and undermines the public’s faith in elections at every turn, the future of American democratic self-government is at risk.

Sounds scary. But what if I told you this was a great opportunity for fun and profit? Silicon Valley–backed startup Kalshi is attempting to expand the amount of gambling on the country’s elections with the introduction of an “event contract” centered around congressional elections. Simply put, the firm aims to allow traders to bet on the event: Which party will win control of Congress?