US CFTC Submits Two Rules to Define Event Contracts and Sportsbook Products Under the Swaps Framework

Odaily reports that the U.S. Commodity Futures Trading Commission has submitted two regulatory proposals to the White House Office of Information and Regulatory Affairs. First, it plans to explicitly include event contracts within the definition of swaps, which will subsequently enter a public comment period. Second, it plans to exclude casino-style sportsbook products from the definition of swaps through an interim final rule, taking effect after administrative approval.

The Supreme Court has accepted three appeals related to the definition of swaps.