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The Commodity Futures Trading Commission (CFTC or the Commission) has moved to clarify and codify the distinction under the Commodity Exchange Act (CEA) between federally regulated event contracts and gambling products traditionally overseen by state and tribal authorities. Following conflicting federal appellate decisions concerning whether sports-related event contracts are swaps, the CFTC has taken two coordinated actions.
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds. To read more issues of Katten's Financial Markets and Funds Quick Take, please click here.
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