CFTC chair withdraws proposed sports-contract rules and staff advisory
CFTC chair Michael Selig said he directed staff to withdraw a proposed rulemaking that would have prohibited political and sports event contracts, and an advisory cautioning firms against offering sports contracts in states with ongoing litigation. He said the commission would defend its authority over event contracts in federal and state court cases.
The withdrawals affect the CFTC’s stated approach to sports event contracts amid disputes over federal and state oversight.