Sports Contracts Face Nevada Challenge Over CFTC Treatment

The CFTC advanced two measures affecting prediction markets, a move Nevada Gaming Control Board Chairman Mike Dreitzer said he expected as federal and state authorities dispute who should oversee sports-event contracts. CDC Gaming reported his comments during an Indian Gaming Association webinar. Two measures set out different boundaries One proposed rule would broaden the federal definition of a swap to include event contracts tied to culture, weather, politics and sports.