CFTC Proposes Rule Defining Sports Contracts as Gaming, Bans 5 Categories on June 10

According to the CFTC, on June 10, the agency proposed a rule defining sports event contracts as gaming while permitting nearly all of them, opening a 90-day comment period. Five contract categories would be banned: player injuries, officiating outcomes, discrete in-game actions by named players, physical altercations, and pre-collegiate sports. The proposal marks a regulatory shift; CFTC counsel had previously argued before the Ninth Circuit that sports contracts do not involve gaming. By the agency's count, event contract listings have grown from approximately 220 in 2021 to more than 8,000.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments