Federal-State Divide Sharpens Over Sports Event Contracts

The Commodity Futures Trading Commission (CFTC) has codified an exclusion for casino-style gambling products from the definition of a swap, while separately asserting that event contracts fall within its federal derivatives remit. The paired positions draw a sharper boundary between conventional sportsbook wagers and prediction-market contracts, leaving the division of authority between federal and state regulators contested. Announced on Friday, 9 October , the casino-style exclusion is an Interim Final Rule, with a 30-day period for public comment.