{
  "id": 11077874,
  "title": "CFTC seeks to define event contracts as swaps amid prediction market fight",
  "url": "https://urgent.news/2026/10/01/cftc-seeks-to-define-event-contracts-as-swaps-amid-prediction-market",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T01:07:46.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/cftc-seeks-to-define-event-contracts-as-swaps-amid-prediction-market-fight"
  },
  "original_language": "en",
  "account": "The Commodity Futures Trading Commission (CFTC) is aiming to redefine event contracts as swaps in a bid to assert its exclusive federal jurisdiction over such products sold on regulated prediction markets. The ongoing dispute involves the US Commodity Futures Trading Commission and state gambling regulators, who are clashing over the classification of prediction markets. The Office of Information and Regulatory Affairs has submitted a proposed rule to broaden the definition of a \"swap\" to encompass event contracts, while simultaneously proposing an interim final rule that would exclude casino-style gambling products. This classification is significant as the CFTC has asserted federal law's sole authority over swaps traded on its regulated exchanges, including those provided by Polymarket and Kalshi. In contrast, state regulators have challenged this stance, especially concerning sports event contracts, contending they fall under state gambling laws. Recently, Kalshi lost an appeal, paving the way for a potential Supreme Court case.",
  "summary": "The classification could assist the CFTC’s claim that it has exclusive federal jurisdiction over event contracts offered on regulated prediction markets.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}