Crypto
CFTC Proposes Opposite Approaches for Event Contracts and Gambling Products
The Commodity Futures Trading Commission (CFTC) has proposed two new rules for regulating event contracts and gambling products in the US derivatives market. The proposals, submitted on September 30, take opposite approaches to classifying these products under US law.
One proposal would include event contracts in the definition of swaps, while the other would exclude casino-style gambling products from this definition. The filings were sent to the White House Office of Information and Regulatory Affairs for review.
If advanced, the proposals would clarify how these products fit within the US derivatives system. This could lead to separate regulatory treatment for event-based contracts and gambling products under the CFTC's swap framework.