New York State Assemblyman Ritchie Torres believes that US regulators should not try to ban election prediction markets, but should instead focus on regulating these contracts to prevent bad actors from gaining market share. In a recent letter to US Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, Ritchie Torres wrote: “I urge the Commission to consider developing a plan to regulate these markets rather than to prevent their existence in regulated markets. The CFTC would be more effective if it worked with regulated registrants to strengthen the integrity of elections and protect consumers from the dangers of widespread adoption of illegal and unregulated prediction markets.” (Cointelegraph)