CFTC Sends the White House Rules That Would Define Event Contracts as Swaps
By Unchained
AI summary of the source article
The Commodity Futures Trading Commission has submitted two rules to the White House to redefine swaps regarding prediction market event contracts. A proposed rule would define swaps to include event contracts, while an interim final rule would exclude casino-style gambling products. The classification affects the CFTC's jurisdiction amid ongoing court battles between prediction market operators and state gambling regulators.