CFTC Draft Rules Target Separation of Prediction Markets From Gambling

The U.S. Commodity Futures Trading Commission (CFTC) has put forward two proposals aimed at tightening the rules governing prediction markets and other “event contracts.” The moves seek to clarify when these products fall under federal derivatives law—and when they do not—at a time when state regulators have increasingly challenged major operators. According to CFTC press releases, one proposal would define event contracts as “swaps” under federal law, while the other would carve out casino-style gambling products from the same definition. Both filings were made Friday and come with a 30-day public comment period.

Source: Crypto Breaking News