Will SCOTUS take up prediction markets case after CFTC issues proposed rules on swaps?
Photo: iGaming Business
With divergent opinions on the jurisdiction for sports event contracts, a battle for the future of the burgeoning industry may eventually head to the US Supreme Court. As industry stakeholders await the court’s move, several circuit decisions have further contextualised the legal interpretation of a swap, which has received polarised judicial analysis. Before the nation’s highest court decides whether to take up the case, a federal regulator on derivatives released new proposed rules broadening their definition of swaps. The proposal, released last Friday, provides the latest twist in the intense battle on the future of the multibillion -dollar industry.
Source: iGaming Business
