An Aug. 8 joint letter from the Commodity Futures Trading Commission's Division of Market Oversight and Market Participants Division told regulated entities that list, solicit or accept event contracts to present clear derivatives pricing and avoid sportsbook-style American odds that could mislead users about the nature of exchange-traded products or obscure market-depth and price-impact signals. The warning says venues must supervise intermediary market participants, affiliates and partners, and that misleading pricing displays could trigger federal anti-manipulation concerns. It extends broader CFTC guidance, including Staff Advisory No. 26-08 and an Advance Notice of Proposed Rulemaking with comments due April 30, 2026, as state challenges intensify around sports-event contracts, New York pursues a lawsuit against Kalshi seeking at least $36 billion in damages and penalties, and Polymarket faces regulatory attention over its settlement mechanism and false advertising.