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Outgoing CFTC Commissioner Kristin Johnson delivered a stark warning about prediction markets operating with insufficient oversight during her farewell speech. Her remarks coincided with the CFTC’s approval of Polymarket’s return to U.S. markets through a $112 million acquisition. Johnson emphasized that these markets are capturing unprecedented retail funds while lacking proper regulatory frameworks.
- CFTC approved Polymarket's U.S. return through $112M QCX acquisition on same day as Johnson's warning
- Johnson criticized 'rent or buy' licensing trend where firms quickly pivot to prediction markets after approval
- Commissioner invoked FTX, Celsius and Terra failures as examples of how weak governance invites crisis
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