The chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has announced his resignation effective February 7, amid the evolving landscape of political betting regulation.

Behnam, appointed by Trump in 2017 and elevated to chair by Biden in 2021, has been a vocal opponent of political betting platforms like PredictIt and Kalshi. During his tenure, he consistently argued against election wagering, stating it "cheapens the sanctity of our democratic process" and transforms political convictions into financial calculations.

His departure coincides with Trump's return to Washington and could signal a shift toward deregulation in prediction markets. Trump, who built part of his fortune through casino ownership, is expected to appoint a conservative chair favoring less federal oversight.

The resignation's timing is particularly significant given the recent performance of betting markets in political forecasting. While traditional polls showed mixed results in recent elections, betting markets demonstrated higher accuracy. In the last election, betting markets gave Trump a 61% chance of winning against Harris, more accurately predicting the outcome than conventional polls.

Under Behnam's leadership, the CFTC focused on strengthening financial markets and addressing regulatory gaps while supporting innovation. His departure marks a potential turning point in the regulation of political betting markets and their role in election forecasting.

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