CFTC moves to classify prediction market contracts as swaps, exclude gambling
- —The CFTC submitted both draft rules to the OMB on Sept. 28, labeling them 'not economically significant'
- —One rule adds event contracts to the swap definition; the other removes gambling products from it
- —The Sixth and Eighth Circuit courts have ruled that Kalshi's sports contracts are not swaps
- —Mike Selig is the CFTC's only sitting commissioner and is advancing the rules alone
Why it matters: If adopted, the rules would give prediction markets federal standing and shield them from state gambling laws; otherwise the Supreme Court is likely to decide.
Source: 動區 BlockTempo