Commodity Futures Modernization Act of 2000

And even for us, I mean, we were closely monitoring, you know, DeFi and DeFi specific that started to act and function like exchanges and how would they be regulated versus exempted from regulation.

so those things still need to be worked through i think for us to get back uh on that bill um you know you never know uh it's it's one of these things i was um you know i worked on this the commodity futures modernization act in 2000 um you know that this was the year that you know uh president bush and al gore were running against each other And remember the hanging chads and we didn't know who was the declared winner.

That uncertainty around election actually caused parties to come together and to find a solution in a lame duck session.

And we ultimately passed the CFMA in late December.

These platforms are self-certifying, so that means they can certify event contracts without having to flag for the CFTC.

And this is as a result of the passage of the Commodity Futures Modernization Act in 2000.

So this was a significant amendment to the Commodity Exchange Act where it changed the structure of derivative markets.

which cover prediction markets.

So you mentioned there is historical precedent for bills getting passed after a midterm election.

The Commodity Futures Modernization Act.

Was that one of them?

Yes, it was.