CFTC proposes rules for prediction markets, carves casinos out of its jurisdiction
- —Proposed rule brings event contracts under the CFTC's swap definition and exclusive jurisdiction
- —Interim final rule excludes sportsbook bets and casino games from the swap definition
- —August event-contract volume reached about $1.5 billion, with 80% tied to sports
- —39 states and Washington D.C. backed New Jersey's appeal to the Supreme Court in the Kalshi case
Why it matters: The split between federal and state authority will shape how prediction markets, including Coinbase's and Kalshi's products, are regulated.
Source: CoinDesk Japan