According to CoinMeta, the Commodity Futures Trading Commission (CFTC) of the United States submitted two new regulations to the White House on September 28th, aimed at strengthening its control over prediction markets. These new regulations will redefine the legal definition of "swaps" to explicitly include event contracts, which are "yes or no" bets traded on platforms such as Kalshi and Polymarket. The first proposal will further define "swaps" and will open for public comment. The second temporary final rule will exclude "casino-style gambling products" and may take effect after approval. CFTC has categorized these two proposals as not having economic significance, and the full text has not yet been made public. If event contracts are considered swaps, they will fall under the jurisdiction of the CFTC. The chairman of the CFTC, Michael Selig, believes that this jurisdiction is exclusive and goes beyond the scope of state gambling regulators. Multiple states have filed lawsuits against prediction market operators, accusing them of illegal gambling, and CFTC has also counterclaimed to prevent such regulation. This move comes after a series of appeals court rulings regarding the qualifications of these contracts and has now drawn the attention of the Supreme Court.