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CFTC moves to define event contracts as swaps, draws line at sportsbooks
- CFTC moves to define event contracts as swaps, draws line at sportsbooks — The CFTC announced two measures: one would formally classify event contracts linked to sports, politics, culture and weather as swaps, while an interim final rule explicitly excludes sportsbook wagers and casino games. Chairman Michael S. Selig said the products are commodity derivatives within the agency's exclusive jurisdiction. (World Casino Directory)
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