US CFTC Proposes to Bring Prediction Market Event Contracts Under Swap Regulation, Seeks Federal Regulatory Authority

The U.S. Commodity Futures Trading Commission (CFTC) on Friday issued an interim final rule and proposed another new rule, seeking to further establish its regulatory authority over prediction markets. Under the new proposal, contracts for sports, political, cultural and weather events traded on platforms like Kalshi and Polymarket will be brought under the existing U.S. swap regulatory framework overseen by the CFTC; casino-style gambling is excluded from the definition of swaps. The two rules

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