CFTC wants to include prediction markets in definition of 'swap'
The Commodity Futures Trading Commission is proposing to formally define event contracts, including those tied to sports, politics, culture and weather, as swaps, in a change the agency says would confirm its exclusive jurisdiction over contracts traded on prediction markets.
TL;DR
- The CFTC is proposing to formally define event contracts as swaps.
- These contracts can be tied to sports, politics, culture, and weather.
- The proposed change aims to confirm the CFTC's exclusive jurisdiction over prediction markets.
- This move could impact how contracts on prediction markets are regulated.