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3 segments
CFTC Federal Register — CFTC Source document ↗
United States Federal Register — CFTC Markets & Infrastructure ✓ 19 claims 2 hrs ago

CFTC carves casino-style gambling out of swap definition in immediate interim rule

The CFTC has moved to settle a jurisdictional fight over event contracts by amending the swap definition to exclude casino-style gambling. The rule took effect on publication without prior notice-and-comment, and the Commission has paired it with a separate proposal to define event contracts as swaps. This segment covers what the new paragraph (7) requires, the two-part test it imposes, and the litigation driving the urgency.

  • The interim final rule adds paragraph (7) to the swap definition in 17 CFR 1.3, excluding licensed casino-style gambling products including sports wagers and casino games.
  • The rule became effective on October 19, 2026 under the APA good-cause exception, with comments due by November 18, 2026.
  • Exclusion requires satisfying both a Provider Test (State- or Tribe-licensed operator, regulated as gaming under that law) and a Product Test (not traded multilaterally or subject to individual negotiation).
  • The Commission issued a separate Notice of Proposed Rulemaking the same day proposing to define event contracts as swaps.
  • The rule does not further define 'security-based swap' and does not presume that a product failing the exclusion is necessarily a swap.
Source document
CFTC Federal Register — CFTC Source document ↗
United States Federal Register — CFTC Markets & Infrastructure ✓ 19 claims 3 hrs ago

CFTC proposes defining sports and election event contracts as swaps

The CFTC has issued a notice of proposed rulemaking to write event contracts, including those on sports, politics, cultural events and weather, directly into the regulatory definition of swap. The move lands amid a three-way circuit split and active state criminal and civil actions against prediction-market exchanges. Comments close November 18, 2026. This segment covers what the Commission is asserting, the authority it invokes, and where the jurisdictional fight stands.

  • Comments on the proposal, referencing RIN 3038-AF82, must be received by November 18, 2026.
  • The rule would add paragraph (2)(i)(G) to the swap definition in 17 CFR 1.3, naming event contracts based on sports, politics, cultural and weather events.
  • Three appeals courts have split: the Third Circuit found sports event contracts are swaps, while the Ninth and Sixth Circuits concluded they are likely not.
  • As of September 1, 2026 at least seven CFTC-registered DCMs offered sports-related event contracts, with more than fifteen DCM applications pending since 2025.
  • August 2026 average monthly event-contract volume was about $1.5 billion, of which roughly $1.2 billion was sports-related.
Source document
CFTC Federal Register — CFTC Source document ↗
United States Federal Register — CFTC Digital Assets ✓ 10 claims 4 hrs ago

CFTC crypto-asset regulation document on Federal Register returns an access-restriction page

The URL points to a CFTC document on crypto-asset transactions and crypto-asset markets, but the content returned is a Federal Register access-restriction notice rather than the regulation itself. This briefing records only what that page states, because the substance of the rule was not available at this address at the time of retrieval.

  • The page returned at this Federal Register URL is a "Request Access" notice, not the text of the referenced CFTC regulation.
  • The notice states that programmatic access to FederalRegister.gov and eCFR.gov is limited due to automated scraping, with machine access directed to the sites' developer APIs.
  • Human users are asked to complete a CAPTCHA, which may be requested again as part of the site's security measures.
  • The "Site Help" button is for IP Access requests, and its contact form is only for IP Access help, instructing users not to provide confidential information or personal data.
Source document