TREE NEWS update: The CFTC has submitted two regulatory proposals to the White House Office of Information and Regulatory Affairs. One proposed rule would explicitly classify event contracts as swaps and proceed to public comment; a separate interim final rule would exclude casino-style gaming products from the swap definition and take effect upon administrative approval. The move responds to rulings by the Sixth and Ninth Circuit Courts of Appeals, with the Supreme Court having accepted three appeals on the swap definition.
CFTC Sends Two Swap-Definition Rules to White House for Review
AI take
The CFTC is effectively trying to settle the swap-definition fight through rulemaking while the Supreme Court weighs three appeals, which means the legal and regulatory tracks could collide. The carve-out for casino-style gaming, paired with the push to label event contracts as swaps, signals a preference for drawing a bright line around sports and gambling rather than treating all prediction markets alike. How the courts and the comment process react to that distinction is the open question, and it will shape where event-contract venues can operate.
Generated by AI for reference only.
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