CFTC Issues Interim Rule Excluding Casino Wagers From Swap Definition

The Commodity Futures Trading Commission adopted an interim final rule on Oct. 9, 2026 that keeps licensed sportsbook and casino wagers out of the swap definition. It also proposed adding event contracts on sports, politics, culture and weather to that definition. Both open 30-day comment periods once published.

Interim Final Rule Details

The CFTC said on Oct. 9, 2026 its interim final rule codifies its longstanding position that casino-style gambling is not a swap. The interim rule carries RIN 3038-AF81 and adds a casino-style gambling paragraph to the swap definition in 17 CFR 1.3. The rule text covers deals offered by an operator licensed by a state or a federally recognized tribe and regulated as gambling under that law. The rule text also requires that the deal not trade on an exchange, swap execution facility or other multilateral market.

The CFTC rule lists sportsbook wagers, casino table games and slot machines, and other games of chance such as bingo, lotteries and raffles. The interim rule takes effect on Federal Register publication, with comments due 30 days after. The CFTC marks the text As approved by the Commission, subject to pre-publication technical corrections. The interim rule says OMB rated it significant, but not a major rule under the Congressional Review Act.

Proposed Rule on Event Contracts

The CFTC’s companion proposal carries RIN 3038-AF82 and proposes to define swap to include event contracts on sports, politics, culture and weather. The proposal would add event contracts to the listed swap examples in 17 CFR 1.3. The CFTC says these contracts are commonly known to the trade as swaps. The proposal aims to resolve ambiguity.

Proposal comments are due via Regulations.gov within 30 days of Federal Register publication. The CFTC marks the text As approved by the Commission, subject to pre-publication technical corrections. Neither rulemaking had appeared in the Federal Register as of Oct. 10, 2026.

Comment Process and Next Steps

Both actions remain subject to pre-publication technical corrections. The event-contract change exists only as a proposal open for comment and is not final. The CFTC release numbers are 9309-26 for the interim rule and 9310-26 for the proposed rule. Market participants can review the full texts at the CFTC website once published in the Federal Register.