CFTC Sends White House Two Proposals to Cement Prediction Market Jurisdiction

The significance lies in the CFTC trying to lock in exclusive federal jurisdiction before courts resolve the states' gambling claims, since defining event contracts as swaps would preempt state-level challenges. This affects prediction-market operators, state regulators, and the broader event-contract sector, all of which now face a clearer but contested dividing line between regulated derivatives and prohibited gambling. The open question is whether the White House advances these proposals and whether courts defer to the agency's line-drawing, or let state gambling suits proceed in parallel.