A bet accepted under a state or tribal gambling license is not a swap, the interim final rule says, whether at a sportsbook or a casino. A separate proposal would name event contracts, from sports to elections and weather, as swaps in the same definition. The proposal puts average monthly event-contract volume in August at … Read more
The CFTC ordered KalshiEX LLC to keep operating under the Commodity Exchange Act’s Core Principles and its normal practices. KalshiEX notified the commission of a market emergency on Aug. 1, and that notification triggered the federal order. New York’s July 31 complaint seeks to bar all Kalshi event contracts nationwide and more than $36 billion … Read more
Judge William Griesbach denied the CFTC’s request for a preliminary injunction against Wisconsin in a 28-page decision filed July 29. The court said the agency is unlikely to prove sports event contracts are swaps or that federal law preempts Wisconsin’s gambling statute. Two days earlier the same federal plaintiffs won an injunction against Minnesota, splitting … Read more