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NBA urges CFTC to require integrity controls for sports-event contracts

Regulation

The NBA submitted comments to the US Commodity Futures Trading Commission on 30 April, urging regulation of sports-event contracts to protect competition integrity, according to the league’s letter. It called for trading restrictions on athletes and sports personnel, cooperation with league investigations, trader-identity disclosure and use of official league data for settlement.

The NBA’s proposals could shape CFTC rules governing sports-related contracts on designated markets.

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Regulation

CFTC proposes swap classification for sports and political event contracts

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 Commodity Futures Trading Commission (CFTC) has proposed amending its rules so that event contracts based on sports, politics, culture and weather are explicitly included in the definition of a swap under federal law. The proposal was announced on 9 October, according to the regulator, and a public consultation has been opened before the agency decides whether to adopt the change.

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