Prediction markets allow users to buy and sell contracts based on the outcome of future events, ranging from elections and sports to natural disasters. Prediction markets have faced increasing regulatory scrutiny in recent years as their volume and range of topics have expanded. Merkley's office and the other signatories presented the request as a call for common-sense limits rather than a broad attack on all prediction markets. The CFTC has not yet issued a public response to the specific questions posed. The debate reflects larger tensions over the rapid growth of prediction markets and the types of events considered appropriate for financial wagering.