The CFTC Should Prohibit Sports Event Contracts from Being Listed and Traded • Sports Event Contracts constitute sports betting and are therefore exclusively regulated by states and Tribes. • Sports Event Contracts are not an “excluded commodity” under the CEA, and the CFTC therefore lacks jurisdiction to authorize sports event contracts. • However, if the CFTC determines that it does have jurisdiction, it should issue regulations expressly prohibiting Sports Event Contracts pursuant to the “Special Rule”: Sports Event Contracts involve “gaming”; Sports Event Contracts involve illicit activity under federal and state law; and Sports Event Contracts involve “similar activity” to gaming and illicit activity under federal and state law.
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