According to CoinMeta, the U.S. Commodity Futures Trading Commission (CFTC) issued a series of new regulations on Friday, officially defining event contracts as "swaps" and explicitly excluding traditional gambling from this category. The first proposed rule expands the definition of a "swap" to include event contracts related to sports, politics, cultural events, and weather. CFTC Chair Michael Selliger stated that these products are "commodity derivatives" and fall under the regulatory jurisdiction of the CFTC. The second temporary final rule clarifies that casino-style gambling products do not fall within the definition of swaps. Both measures come with a 30-day comment period. These new regulations are of significant importance in the competition for regulatory authority over the forecasting market; if event contracts are considered swaps, they will be regulated by the CFTC, whereas otherwise, they may fall under the jurisdiction of state gambling authorities.