CFTC Chairman Mike Selig Says Event Contracts Fall Under Exclusive CFTC Authority
Mike Selig states that event contracts listed on CFTC-registered exchanges are derivatives under the sole oversight of the CFTC (U.S. derivatives regulator), whether tied to sports or politics.
Summary
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Terms & Concepts
Event contracts: Derivative products that let traders take positions on whether a specific event will occur.
Derivatives: Financial contracts whose value is linked to an underlying asset, benchmark, or event outcome.
CFTC: Commodity Futures Trading Commission, the U.S. regulator overseeing derivatives markets.