Odaily Planet Daily News: Paul Grewal, chief legal officer of Coinbase, opposes the rulemaking proposed by the U.S. Commodity Futures Trading Commission (CFTC) to ban certain prediction contracts, believing that it has no sufficient reasons. Grewal believes that the proposal has a definition problem. The broad definition of "gambling" covers the Nobel Prize and the Oscar Award, etc. The definition is also inconsistent with legislative history, evaluating contracts as a category that is not in the public interest and exceeds the statutory authority of the CFTC. Previously, the U.S. CFTC voted in May to pass a rule that, if finalized, will ban betting on political contests and other fields. Event contracts, such contracts are not allowed to be listed for trading or clearing through CFTC-registered entities. Earlier this week, Senator Elizabeth Warren urged CFTC Chairman Rostin Behnam to "quickly" finalize rules banning political event contracts. (The Block)