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CFTC proposes writing prediction markets into swap rules while carving sportsbooks out, Unchained reports
- CFTC proposes writing prediction markets into swap rules while carving sportsbooks out, Unchained reports — Unchained reports the CFTC on October 9 proposed adding event contracts, including those based on sports, politics, cultural and weather events, to its regulatory definition of a swap at 17 CFR 1.3, while issuing a companion interim final rule keeping sportsbook and casino games outside that definition. CFTC Chairman Michael S. Selig said event contracts are commodity derivatives within the agency exclusive jurisdiction under the Commodity Exchange Act, and comments on the proposal are due 30 days after Federal Register publication. (Unchained)
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