Digital management firm Dragonfly Digital Management and its advisor Bryan Edelman recently wrote to the U.S. Commodity Futures Trading Commission (CFTC) opposing the agency's proposed ban on prediction markets. They argue that contracts involving political events should not be equated with gambling behaviors such as betting on the Super Bowl. They point out that political elections have a significant impact on the economy, and these contracts aim to provide participants with critical risk-hedging functions in compliance with the Commodity Exchange Act (CEA), providing valuable predictive information to the public. Additionally, Dragonfly notes that the proposed rules by the CFTC may be overreaching, as they broadly prohibit market predictions without proper assessment, especially considering the recent Supreme Court decision in the 'Chevron' case, which limits the CFTC's interpretive authority in the absence of congressional authorization. Meanwhile, Joseph Fishkin, a law professor at the University of California, Los Angeles (UCLA), also points out that prediction markets provide valuable insights into public opinion and political events and should not be regulated by shutting down prediction markets within the United States.