**CFTC Cracks Down on Offshore Crypto Betting Platforms**

The U.S. Commodity Futures Trading Commission (CFTC) is tightening its grip on offshore crypto betting platforms like Polymarket, warning of enforcement actions against those offering unregistered derivatives contracts to U.S. customers.

- **CFTC Chair Speaks Out**: Rostin Behnam emphasized the need for legal compliance during a July 17 talk at Georgetown University.

- **Past Actions**: Polymarket settled with the CFTC for $1.4 million in January 2022 for unregistered event-based binary options.

- **Recent Developments**: The CFTC partially lost a lawsuit against Kalshi but continues to scrutinize election betting markets, pausing Kalshi’s operations again on Sept. 12.

Stay tuned as the CFTC aims to ensure legal operations in the crypto betting space.