CFTC Issues Interim Rule Excluding Sportsbook and Casino Bets From the Swap Definition
Photo: Crypto Daily
The Commodity Futures Trading Commission on October 9 published an interim final rule codifying that casino-style gambling products, including sportsbook wagers and casino games, are excluded from the Commodity Exchange Act’s definition of a “swap.” The rule takes effect upon publication in the Federal Register, removing those traditional gambling products from the statute’s swap classification once effective. The action sets a clearer boundary around the agency’s remit over gambling-related products, but it does not settle the separate policy and rulemaking questions surrounding exchange-traded event contracts and prediction markets .
Source: Crypto Daily
