The CFTC issued two regulatory measures on Friday that would define event contracts as swaps while excluding traditional casino gambling. The first proposal expands the swap definition to include contracts tied to sports, politics, cultural events, and weather. The second codifies the exclusion of sportsbook wagers and casino games, which Chairman Michael Selig described as not being derivatives. These rules aim to confirm the CFTC’s exclusive jurisdiction over prediction markets like Kalshi and Polymarket amid lawsuits from multiple states. The Supreme Court has taken notice of this jurisdictional question as both rules open for a 30-day comment period.
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