By SectorWire desk · · Updated
The CFTC proposed rule changes on 9 October to classify sports, political, cultural and weather event contracts as swaps under US federal law. The proposal would explicitly include these contracts in the agency’s rules.
The CFTC proposal would classify sports, political, cultural and weather event contracts as swaps and explicitly include them in rules.
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The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
Dreitzer’s comments dispute the distinction used to separate sports-event contracts from conventional betting.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The outcome could determine whether prediction market operators can continue serving the US market under federal or state rules.
Kalshi’s proposed rule would allow financial penalties, suspension or account deactivation for users harassing athletes or third parties over trading.