Tribes oppose proposed federal swap treatment for US sports contracts
By The Weekly Edge desk ·
Summary
Native American tribes urged the CFTC and SEC to exclude prediction market sports contracts from their proposed swap definition, PlayUSA reported, citing Law360. The tribes argue that federal oversight would divert tribal gaming revenue and conflict with the Indian Gaming Regulatory Act.
Why it matters
Tribes argue federal oversight of sports contracts would divert tribal gaming revenue and conflict with the Indian Gaming Regulatory Act.