Regulation· ★★★★· neutral·

CFTC proposes redefining 'swaps' to shield prediction markets from state gambling suits

  • —CFTC sent two proposed 'swap' definitions to OIRA to shield prediction markets
  • —States lead prediction markets 38-5 in court; Sixth Circuit rejected Kalshi's swap argument
  • —Congress expanded insider trading probe with letters to PredictIt, Crypto.com and Hyperliquid Labs
  • —CFTC reportedly investigating ex-Rep. Kinzinger over Kalshi bets on his own pardon
Why it matters: The outcome will determine whether Kalshi and Polymarket can legally offer sports contracts in the US despite state opposition.
Source: CoinGeek
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