CFTC Looks to Soften the Blow From Its Coming Rejection of Political Betting

Also, a federal judge blasts the SEC's 'no admit, no deny' policy

All signs are pointing toward the CFTC rejecting a controversial proposal that would let investors wager on congressional elections. But the agency, which blew past its self-imposed deadline for the decision on Friday, is still grappling with the potential consequences of its likely action – because it faces intense pressure from financial firms and gam…