CFTC FILES TWIN RULES ON EVENT CONTRACTS

The CFTC sent the White House two opposite rules on September 28. One, RIN 3038-AF82, would classify event contracts as swaps, pulling platforms like Kalshi and Polymarket under federal oversight and out of state gambling regulators' reach. The other, RIN 3038-AF81, carves casino-style gambling products out of that same swap definition. The split comes as the Supreme Court weighs a circuit conflict over who regulates prediction markets, weeks after New York sued Polymarket. Robinhood ($HOOD), which sources event contracts through Kalshi, has real money riding on which label sticks.