The CFTC has proposed two regulatory frameworks that would classify sports, political, cultural, and weather event contracts as swaps, while excluding traditional casino-style gambling. CFTC Chairman Michael Selig stated that event contracts are commodity derivatives under the CFTC’s exclusive jurisdiction, and that sports betting and casino games are not derivatives. The proposals were submitted on Friday with a 30-day comment period, amid legal disputes with states over prediction market operators like Kalshi and Polymarket.