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CFTC moves to classify sports and event contracts as swaps while excluding licensed sportsbook and casino wagers, PlayPennsylvania reports
- CFTC moves to classify sports and event contracts as swaps while excluding licensed sportsbook and casino wagers, PlayPennsylvania reports — PlayPennsylvania reports the CFTC announced two October 9 actions aimed at distinguishing prediction markets from conventional gambling, with a proposed rule expressly including contracts on sports, politics, cultural events and weather in the federal definition of a swap. A separate interim final rule excludes qualifying sportsbook wagers and casino games offered under state or tribal licenses from that definition. (PlayPennsylvania)
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