CFTC Rule Change Leaves Sportsbook Bets Outside Swaps Definition
Photo: GamblingNews
The Commodity Futures Trading Commission (CFTC) has officially excluded traditional casino gambling products, including sportsbook wagers, from the federal definition of a swap. The legislation aims to set the line between derivatives markets and gambling operations overseen by state and tribal officials. CFTC Opens 30-Day Comment Period on Casino-Style Gambling Exemption The interim final rule announced October 9 sets forth the long-standing position of the agency on regulation. This includes sports wagers made at sportsbooks, casino games, and other licensed games of chance that meet certain legal requirements. The rule is effective on publication in the Federal Register.
Source: GamblingNews
