The CFTC advanced two measures affecting prediction markets, a move Nevada Gaming Control Board Chairman Mike Dreitzer said he expected as federal and state authorities dispute who should oversee sports-event contracts. CDC Gaming reported his comments during an Indian Gaming Association webinar.

Two measures set out different boundaries

One proposed rule would broaden the federal definition of a swap to include event contracts tied to culture, weather, politics and sports. A separate interim final rule, effective upon publication in the Federal Register, confirms the CFTC’s stated position that casino-style gambling products-including sportsbook wagers and casino games-are outside that definition.

The distinction is central to the disagreement: the agency’s measures would bring specified event contracts within its federal framework while drawing a line around traditional gambling.…