CFTC Aims To Ban Derivatives Based On Elections, Athletic Competitions And Awards Contests [zero hedge]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: zero hedge
CFTC Aims To Ban Derivatives Based On Elections, Athletic Competitions And Awards Contests Previously enjoyed betting on the outcome of an event, like a Presidential election? The CFTC wants to make sure that doesn't happen again. According to the Wall Street Journal , the regulator is now targeting "derivatives contracts based on political elections, athletic competitions and awards contests" to try and draw more prominent lines between investing and gambling. The Commodity Futures Trading Commission proposed a regulation to oversee event contracts, a rapidly growing market where investors bet on event outcomes, the report said. The proposed regulation won’t affect sports betting through traditional sportsbooks regulated by state commissions or popular online platforms like DraftKings. Nor will it impact offshore platforms like Betfair, which currently allows U.S. election bets. The proposal, approved 3-2 along party lines, will undergo public review before a final vote in the coming
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News
- Illinois House takes up $53.1B budget OK'd by Senate [Yahoo! Finance]Yahoo! Finance
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- Signal: Buy the Dip on DraftKings Stock [Yahoo! Finance]Yahoo! Finance
- Why DraftKings (DKNG) Stock Is Down Today [Yahoo! Finance]Yahoo! Finance
- Why DraftKings Stock Just Crashed 13.5% [Yahoo! Finance]Yahoo! Finance
DKNG
Earnings
- 5/2/24 - Beat
DKNG
Sec Filings
- 5/24/24 - Form 4
- 5/23/24 - Form 4
- 5/23/24 - Form 4
- DKNG's page on the SEC website