1. CFTC Escalates Legal War: Claims Sports Betting Contracts Are Financial 'Swaps,' Not Gambling
The U.S. Commodity Futures Trading Commission (CFTC) is pressing a federal lawsuit that fundamentally reclassifies sports betting, arguing that event-based contracts are financial derivatives known as 'swaps' under federal law, not illegal gambling under state statutes. This legal maneuver directly challenges Arizona's...