CFTC Sends Swap Definition Rules to White House Amid State Gambling Disputes
The U.S. Commodity Futures Trading Commission (CFTC) has submitted two rules related to event contract and swaps definitions to the White House for review. The move comes as the agency is engaged in ongoing disputes with several U.S. states over the regulation of prediction markets. The proposed definitions could potentially counter state-level claims that certain prediction market contracts constitute illegal gambling. By seeking federal-level clarification, the CFTC appears to be working to assert regulatory authority over these financial instruments. The outcome of the review may have significant implications for how prediction markets are classified and governed across the country.
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