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CFTC proposes classifying prediction market event contracts as swaps while excluding casino-style gambling, Sumsub reports
- CFTC proposes classifying prediction market event contracts as swaps while excluding casino-style gambling, Sumsub reports — The Commodity Futures Trading Commission announced on October 9 an interim final rule excluding casino-style gambling from the definition of a swap, alongside a proposal to expressly include event contracts based on sports, politics, cultural and weather events. Chairman Michael Selig said the products are commodity derivatives within the agency exclusive jurisdiction, and the commission is accepting written comments on both measures through Regulations.gov. (Sumsub)
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