This decision affected 24 planned ETFs from Roundhill Investments, GraniteShares, and Bitwise. According to Bloomberg analyst James Seyffart, the first products were scheduled to launch today. However, the SEC requested additional information from issuers about the operational mechanisms and disclosure details of the ETFs. The delay comes amid a legal battle between states and federal agencies over the regulation of prediction markets. Nonetheless, according to Reuters, the delay is temporary. Prediction market ETFs are more akin to binary options with "yes" or "no" choices than traditional ETFs. They carry risks of total loss if the forecast is incorrect. If any result, such as election outcomes, is later revised, investor losses will remain final. In such cases, they "will have no recourse."