CFTC proposes new swap definition to regulate prediction markets
Photo: Crypto Briefing
The agency wants event contracts on sports, politics, culture and weather treated as swaps, while carving casino-style betting out of its reach The Commodity Futures Trading Commission wants to settle one of the messiest turf wars in American finance. Its tool is a definition. The agency has proposed folding event contracts tied to sports, politics, culture and weather into its legal definition of swaps. That would place prediction markets more firmly under federal oversight, at a moment when several states argue those markets are gambling in a nicer suit. The CFTC moved on two fronts at once.
Source: Crypto Briefing
