CFTC Draws Sharp Line Excluding Casino Gambling From Swaps While Targeting Event Contracts
Photo: The Daily Hodl
Federal regulators are drawing a sharp line between casino-style gambling and event contracts in derivatives oversight. The Commodity Futures Trading Commission says it published an interim final rule codifying the exclusion of casino-style gambling products, including sportsbooks and casino games, from the swap definition. The regulator says casino-style gambling products are not derivatives. Says CFTC Chairman Michael S. Selig, “Just as the CFTC has done with respect to other products historically regulated by the states, the Commission today provides clarity regarding the limits of its regulatory remit by codifying the exclusion of casino-style gambling products from the ‘swap’ definition.” The…
Source: The Daily Hodl
