CFTC proposes rules defining federal oversight of event contracts and casino-style gambling
The CFTC proposed two measures to distinguish event contracts from betting and casino gambling under federal rules. One would expand the swap definition to cover contracts tied to sports, political, cultural and weather outcomes; the other, issued as an interim final rule, would exclude casino-style gambling products. Both measures allow 30 days for public comments, the report said.
The proposals could affect how event-contract platforms and traditional betting products are treated under federal and state oversight.