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CFTC proposes swap definition covering sports event contracts, report says
iGaming Business reports the CFTC's 9 October proposal would define swaps to include sports, politics and weather event contracts, amid a circuit split.
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iGaming Business reports the CFTC's 9 October proposal would define swaps to include sports, politics and weather event contracts, amid a circuit split.
The league backs petitioners in Flaherty v. KalshiEx, LLC, arguing sports event contracts are not swaps under Dodd-Frank and citing game-integrity gaps.
Ohio led 39 states and the District of Columbia in a joint brief, while the Seminole Tribe of Florida sued DraftKings in state court.
The two regulator associations filed an amicus brief on 2 October in New Jersey's Kalshi case; states won in the Sixth and Ninth Circuits.