According to CoinMeta, and as reported by Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) has sent letters to all exchanges that offer event-based contracts, requiring entities under its jurisdiction to comply with U.S. derivatives trading laws and not to engage in deceptive practices in contract listing, customer solicitation, or advertising. The CFTC explicitly states that it is not allowed to use American-style gambling odds to market related products, and that derivative prices should be presented in nominal amounts or percentages that reflect market pricing, rather than using the odds format used by casino gambling companies. The CFTC believes that such odds may mislead market participants about the nature of the transactions and could be used to direct consumers towards gambling products with higher profit margins. Relevant brokers, futures commission merchants, and designated contract markets must confirm receipt of the notice by August 31. The CFTC indicates that it will comply with the requirements on time, while the CFTC has not yet responded to requests for comment.