CFTC moves to classify certain event contracts as swaps, seeks public comment

The Commodity Futures Trading Commission proposed explicitly treating a range of event contracts as swaps and opened a 30-day public comment window once the notice is published in the Federal Register.

• CFTC proposes to include certain event contracts in the definition of swap.
• Covered events include sports, politics, cultural, and weather outcomes.
• Public comments are due within 30 days of Federal Register publication via Regulations.gov.
• Chairman says the contracts fall under the CFTC’s exclusive jurisdiction.