CFTC proposes classifying sports event contracts as swaps
Photo: crypto.news
The Commodity Futures Trading Commission has proposed adding event contracts covering four categories, including sports, to its swap definition while issuing a separate rule excluding casino-style gambling products. The Oct. 9 proposal covers contracts tied to sports, politics, cultural events, and weather. A separate interim final rule excludes sportsbook wagers and casino games from the swap definition. Federal appeals courts have reached conflicting decisions on state authority over sports event contracts. The NFL has backed New Jersey’s request for Supreme Court review of Kalshi’s sports contracts. The Commodity Futures Trading Commission announced the proposal on Oct.
Source: crypto.news
