New York State Assemblyman: Regulatory agencies should not attempt to ban election gambling contracts, but should focus on regulation.

On September 14th, according to Cointelegraph, New York State Assemblyman Ritchie Torres believes that US regulatory agencies should not try to ban election betting contracts, but should focus on regulating these contracts to prevent bad actors from gaining market share. In a recent letter to Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, Ritchie Torres wrote, 'I am requesting that the Commission consider developing a plan to regulate these markets rather than prohibit them from existing in regulated markets. If the CFTC collaborates with regulated registrants, strengthens the fairness of elections, and protects consumers from the dangers posed by the widespread adoption of illegal and unregulated election markets, it will be more effective.'