CFTC Excludes Casino-Style Bets From Swap Definition
The CFTC excluded casino-style wagers from its swap definition while saying the move does not alter existing compliance obligations, The Defiant reported.
The U.S. Commodity Futures Trading Commission has excluded casino-style wagers from its definition of a swap, according to The Defiant.
The agency proceeded without first issuing a proposal, citing threats to prediction markets as its rationale for bypassing that step.
The CFTC said the measure leaves existing compliance obligations unchanged. The brief report did not specify which wagers fall within the exclusion or detail the threats cited by the agency.
Source: The Defiant
