[CFTC Proposes Including Event Contracts in the Definition of 'Swaps,' Excluding Casino Gambling Products] Odaily Planet Daily News – The U.S. Commodity Futures Trading Commission (CFTC) has proposed two regulatory measures: one aims to define event contracts as "swaps" under federal law, covering contracts related to sports, politics, cultural events, and weather; the other seeks to exclude traditional casino gambling products from the definition of "swaps." CFTC Chairman Michael Selig stated that event contracts fall under the scope of commodity derivatives regulated by the Commodity Exchange Act and are exclusively under CFTC jurisdiction. Sports betting platforms and casino games, categorized as casino gambling products, do not qualify as derivatives. Both proposals were submitted on Friday, with a 30-day public comment period. Prediction market operators, including Kalshi and Polymarket, have faced lawsuits in multiple states, accused of engaging in illegal gambling; the CFTC has filed counterclaims to assert its federal jurisdiction over event contracts. The related disputes may be brought before the U.S. Supreme Court, addressing the division of federal and state regulatory authority. (Cointelegraph)