CFTC Submits Two Proposed Rules on Event Contracts and Gambling Products
One proposal would classify event contracts as swaps, while the other would exclude casino-style gambling products from the swap definition.
The Commodity Futures Trading Commission submitted two proposed rulemakings on Sept. 30 that would take opposite approaches to classifying event contracts and gambling-related products under U.S. derivatives law.
One proposal would include event contracts in the definition of swaps. The other would exclude casino-style gambling products from the same definition.
The filings were submitted to the White House Office of Information and Regulatory Affairs for review. If advanced, the proposals would establish separate regulatory treatment for event-based contracts and gambling products under the CFTC’s swap framework.
The submissions would clarify how these products fit within the U.S. derivatives system.
