CFTC Proposal Puts Event Contracts Under Swap Definition
The CFTC is proposing to classify several types of event contracts as swaps while excluding casino-style gambling through a separate interim rule.
The Commodity Futures Trading Commission has proposed explicitly classifying event contracts linked to sports, politics, culture and weather as swaps.
A separate interim rule excludes casino-style gambling, drawing a regulatory distinction between those activities and the event contracts covered by the proposal.
Together, the measures sharpen the CFTC’s position that it has exclusive jurisdiction over the covered event contracts. The broader classification remains a proposal, rather than a final rule.
Source: Decrypt
