CFTC Reviews Reporting Rules as Prediction Markets Enter Commodities
➤ The CFTC is reviewing its Commitments of Traders (COT) reporting framework, now including prediction market platforms that offer commodity contracts.
➤ Prediction markets entering the commodities space, like Kalshi, will be subject to the same transparency and reporting standards as traditional exchanges.
➤ This regulatory review signifies a shift in how prediction markets are viewed, integrating them into the broader commodity market structure rather than treating them as separate experiments.
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One of the most important “rules” of reporting - in this writer’s humble opinion - is this: Kill your darlings. It’s right up there with “check your facts” and “check your spelling” (for writers).
So, what does it mean? Simply put: no matter how much you love something, if it doesn’t fit then you cut it. No debate, no mercy. Just cut. it.
More specifically then. If you’re working with audio and/or video sometimes the tech will trip you up. A microphone will malfunction, the colours will be wrong on the video, the camera will be on but not actually record... You’ll have an interview where a train speeds by, a car honks, the person you’re recording is coughing...
Cut it.
“But,” you’ll argue, “they said something super important!” or “the video looks great - we need the visual!”
Cut. It. Rework it, if you feel you must, but cut the part that doesn’t work.
You can use the video, but record a commentary to play with it. Record a new interview, perhaps over the phone, to replace the audio that doesn’t work. Use the video along with another part of the audio, one that doesn't have important photo. Do something – as long as you cut the faulty parts first.
If it's the video that doesn't work, while the audio is great and important, again. Rework it. There's no shame in using video and audio that weren't shot together. They don't even really have to be connected, as long as they don't contradict each other. Use stills, or a panorama, or just about anything that fits.
Just cut the bad parts.
You had an interview object that can’t speak plainly, in a manner those with no special knowledge will understand? If asking them to rephrase it isn't an option, then use your own words to break it down while playing the audio. Commentaries, as stated, are good tools.
When you're using the written word then? Well, here it's both easier and harder. There's no tech to screw things up for you – only you. You'll be tempted to use your favourite word, or a certain expression, or some piece of knowledge you're really proud of. But before you do, think. Does it fit? If yes, great. If no, cut it.
You've interviewed a nurse about the new neo-natal ward, and when they escort you out they tell you about how they just got back from an Iron Man competition, where they took home a silver medal. That's interesting, right? People will want to read about that, surely?
And yes, they will. Only, it has absolutely nothing to do with the new ward. It's darling, true, but kill it anyway. For now. Because now that you know all about nurse M, you can write a separate story about them and their medal.
When writing a story you'll sometimes come up with the most amazing dialogue – the brilliance of it will blind you. It's the best line you've written in maybe ever, and it's so beautiful. You love it more than 95% of everything you've ever written – and it doesn't really fit. You know what I'm going to say, and you don't want to hear it. Still. Cut it.
Your straight white male protagonist probably shouldn't be the one delivering truth bombs on racism, misogyny or homophobia. So cut it. Copy it, cut it, and paste it into another document. There will be other stories, and other characters who will be a better fit for that line.
Don't ruin your hard work by muddying the waters, by using bad material, or placing things where they don't make sense. Don't fuck things up for yourself.
Because darling? Then you will be the one who's dead. And just like your work you deserve better.
