CFTC presses case that sports betting is finance, seeks to block Arizona enforcement
By Sam Reynolds
The U.S. Commodity Futures Trading Commission (CFTC) has filed a federal lawsuit claiming that event contracts, including those on sports betting outcomes, are financial swaps regulated under federal law rather than illegal gambling under state laws. The CFTC seeks to prevent Arizona from enforcing its gaming regulations against these products. This move exacerbates the rift between federal regulators and states viewing such contracts as gambling.
Not financial advice. Do your own research before making investment decisions.