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US Regulator Proposes Treating Event Contracts as Swaps
The U.S. Commodity Futures Trading Commission (CFTC) has proposed a rule to classify event contracts, such as those offered by prediction markets, as "swaps" under federal regulation. This move aims to assert the agency's sole authority over these platforms, as it engages in legal disputes with several states regarding sports betting jurisdiction. Despite objections from state officials and others, CFTC Chairman Mike Selig is moving forward with the proposed policy.
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