Any earnings through such a market should pay a 98 percent income tax on that earnings. There are ways around the stupid CFTC claiming they control gambling.
Then they will complain it is an unfair tax, appeal that to the supreme court and try to have it legally changed to gambling.
It is gambling, and crooked gambling at that since the gambler can affect the outcome of the bet by, you know, killing people or blowing things up - which you shouldn't be legally allowed to gamble on in the first place.