CFTC excludes casino sportsbooks from swap definition
- —A product must pass both a Provider Test (state or tribal license) and a Product Test (not exchange-traded)
- —The rule, Release No. 9309-26, takes effect upon Federal Register publication, followed by a 30-day comment period
- —The companion proposal to classify event contracts as swaps is not yet in effect
- —Covered products include licensed sportsbook wagers, casino table games, bingo and lotteries
Why it matters: The split preserves the existing regime for licensed operators while leaving the treatment of exchange-traded sports and political contracts unresolved.
Source: Crypto Briefing
More on this
Regulation · Sep 30CFTC moves to classify prediction market contracts as swaps, exclude gambling
Regulation · Oct 12CFTC proposes rules for prediction markets, carves casinos out of its jurisdiction
Regulation · Oct 6CFTC Opens Crypto Rulemaking on Leveraged Trades, Excludes Spot Trading