CFTC submits rules to White House defining event contract swaps

The US Commodity Futures Trading Commission (CFTC) has submitted two regulatory proposals to the White House Office of Information and Regulatory Affairs (OIRA). The first proposal seeks to classify event contracts as swaps, while the second is an interim final rule to exclude casino-style gambling products from the swap definition. These actions follow court rulings regarding swap definitions, with the Supreme Court currently reviewing related appeals.