News
CFTC Excludes Casino Sportsbooks from Swap Definition
The Commodity Futures Trading Commission (CFTC) has issued an Interim Final Rule excluding casino-style gambling products, such as parlay bets at local casino sportsbooks, from the definition of a 'swap' under the Commodity Exchange Act. The rule maintains state control over casino bets while potentially expanding federal oversight on event contracts, including sports and politics. The rule becomes effective once published in the Federal Register and is subject to a 30-day comment period.