The face ban on US election and sports betting was put in place by the CFTC

US Election and Sports Betting With Derivatives Face Ban by CFTC. CFTC takes a major step toward directly banning derivatives from being used to bet on political contests and sports games. The move throws up another hurdle for those hoping to wager on November’s US election.

Commodity Futures Trading Commission (CFTC) officials are weighing whether to ban the use of derivatives to bet on the outcome of the US election. Derivatives are investments based on the value of an underlying security, group of assets, or benchmark, which can include stocks, bonds, commodities, index funds, and cryptocurrencies. CFTC Chairman Rostin Behnam sits down with Yahoo Finance's Brian Sozzi and Akiko Fujita at the 2024 Milken Conference.