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SpecificationStandardsPatternsResearchGovernanceMemos

Adversarial review memos

Real questions, argued from more than one side.

Faster-turnaround than a working paper, held to the same rule: a position is stated, then argued against, before anything is called a synthesis. Shown here while still draft — pending review, not yet an Institute position.

  • Does the CFTC's three-part public-interest test actually test the right thing?

    17 August 2026 Draft — pending review

    The CFTC's June 2026 proposed rule ('Prediction Markets; Public Interest Determinations,' docket CFTC-2026-1189) would let the Commission review whether an event contract is contrary to the public interest through a three-step sequential test. Does that test locate the actual failure modes of these contracts, or does it test something else?

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