Event Contracts

Illustration representing the European Securities and Markets Authority (ESMA) and EU regulation of event contracts and binary options

ESMA Reminds Firms That Certain Event Contracts Are Subject to EU Binary Options Rules

by

PARIS, July 3, 2026 — The European Securities and Markets Authority (ESMA) has reminded firms offering prediction markets, also known as event contracts, to assess whether their products fall within existing national product intervention measures on binary options where they qualify as financial instruments, as the growing popularity of such products and increasing retail participation draw greater regulatory attention.

Illustration of two documents representing SEC and CFTC efforts to clarify derivatives product definitions and regulatory frameworks

CFTC, SEC Seek Public Comment on Derivatives Product Definitions

by

WASHINGTON, June 18, 2026 — The Commodity Futures Trading Commission and Securities and Exchange Commission have issued a joint request for public comment on potential ways to further update, clarify and harmonize certain derivatives product definitions and address interpretive questions involving emerging products and alternative compliance frameworks.

CFTC seal displayed alongside event contract reporting no-action letter framework

CFTC Staff Issues No-Action Letter on Data Reporting for Event Contracts

by

WASHINGTON, May 13, 2026 — The U.S. Commodity Futures Trading Commission’s Division of Market Oversight and Division of Clearing and Risk issued a no-action letter setting out a uniform approach to swap data reporting and recordkeeping obligations for certain fully collateralized event contracts.

CFTC no-action letter on event contract reporting and clearing framework

CFTC Expands No-Action Relief for Event Contract Transactions to Include Bitnomial Clearing

by

WASHINGTON, May 4, 2026 — The Commodity Futures Trading Commission said Monday, in a statement, that staff from its Division of Market Oversight and Division of Clearing and Risk have issued a supplemental no-action letter addressing swap data reporting and recordkeeping requirements for certain event contract transactions.

CFTC headquarters amid Arizona event market court dispute

Federal Court Temporarily Blocks Arizona Enforcement Against CFTC-Regulated Event Markets

by

WASHINGTON, April 10, 2026 — A federal court in Arizona granted a temporary restraining order requested by the Commodity Futures Trading Commission barring the state from continuing criminal enforcement proceedings against CFTC-regulated designated contract markets, according to a CFTC press release.

U.S. Court of Appeals for the Ninth Circuit

CFTC Files Amicus Brief in Ninth Circuit on Exclusive Jurisdiction Over Event Contracts

by

WASHINGTON, February 17, 2026 — The U.S. Commodity Futures Trading Commission filed an amicus curiae brief in the U.S. Court of Appeals for the Ninth Circuit explaining that Congress granted the Commission exclusive jurisdiction over commodity derivatives markets under the Commodity Exchange Act, including event contracts commonly referred to as prediction markets, according to a CFTC press release.