CFTC Moves to Classify Event Contracts as Swaps While Excluding Sportsbook Wagers
The CFTC proposed on Oct 9 to include sports, politics, cultural and weather event contracts in the swap definition, while a separate interim final rule excludes sportsbook and casino wagers and takes effect on Federal Register publication. Chairman Michael S. Selig said these products fall under the agency's exclusive jurisdiction. The proposal is not final and carries a 30-day comment window.