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On October 9, 2026, the Commodity Futures Trading Commission (“CFTC”) took two coordinated actions addressing the scope of its jurisdiction over event contracts.  First, it issued an interim final rule (the “Interim Final Rule”) codifying its longstanding position that gambling products, including wagers placed on sportsbook and casino games, are excluded from the “swap” definition.

On September 22, 2026, the Commodity Futures Trading Commission (“CFTC”), through its Division of Market Oversight (“DMO”), issued a staff advisory (the “Staff Advisory”) addressing the listing and trading of event contracts that settle based on whether an individual will say or “mention” certain words, attend or appear at an event, or otherwise interact with…

On August 24, 2026, the Securities and Exchange Commission (“SEC”) published notice of the filing of a proposal by MEMX LLC to list and trade securities event contracts (File No. SR-MEMX-2026-25).  The securities event contracts would be cash-settled, European-style binary “YES” or “NO” options based on the outcome of an event related to…

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The Securities and Exchange Commission (SEC) under the leadership of SEC Chair Atkins devoted significant time and attention during the early part of the Chair’s tenure to digital assets and, while the agency withdrew a number of pending rule proposals from…

On August 18, 2026, the Commodity Futures Trading Commission (“CFTC”) approved a notice of proposed rulemaking.  The notice seeks comment on amendments to the registration framework applicable to commodity pool operators (“CPOs”) and commodity trading advisers (“CTAs”).  The proposal would provide an exemption for certain SEC-registered investment advisers from registering as CPOs and CTAs…

On June 18, 2026, the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC”) issued a joint request for public comment regarding potential updates to the definitions of “swap” and “security-based swap,” along with other interpretive issues arising under Title VII of the Dodd-Frank Act.  The agencies seek feedback on whether existing…

On June 10, 2026, the Commodity Futures Trading Commission (the “CFTC” or the “Commission”) published a notice of proposed rulemaking (the “Proposal”) suggesting comprehensive amendments to CFTC Regulation 40.11 and adding a new Appendix F to Part 40 concerning event contracts traded on prediction markets. The Proposal would further specify the types of event contracts…

On June 10, 2026, the Commodity Futures Trading Commission (“CFTC” or the “Commission”) published a notice of proposed rulemaking (the “NPRM”) proposing amendments to CFTC Regulation 40.11 and the addition of Appendix F to Part 40, concerning event contracts.  The CFTC is proposing to specify the types of event contracts that may be deemed contrary…

Earlier this month, the Commodity Futures Trading Commission (“CFTC”) and Major League Baseball (“MLB”) entered into a Memorandum of Understanding (“MOU”) establishing a formal framework for cooperation, information sharing, and coordination on matters affecting the integrity of the prediction markets related to professional baseball.  The MOU does not create any legally binding obligations or enforceable…

On March 17, 2026, the Securities and Exchange Commission issued an interpretation that provides guidance regarding how the federal securities laws apply to certain crypto assets and to certain transactions involving crypto assets.  Consistent with the recent MoU between the agencies, the Commodity Futures Trading Commission joined in this interpretation and guidance confirming that…