The Block · 2026-10-09 20:46 UTC

NEW: The CFTC proposed a rule to explicitly include event contracts tied to sports, politics, cultural events and weather within the definition of swaps, seeking to clarify its authority over prediction markets. The proposal would resolve ambiguity over the classification of the contracts, which the agency says fall under its exclusive jurisdiction pursuant to the Commodity Exchange Act. "Event contracts are used by Americans every day to hedge risks, speculate, and provide the public with information about the outcome of future events," CFTC Chair Michael Selig said.

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