According to CoinMeta, the Commodity Futures Trading Commission (CFTC) in the United States is seeking a definition of event contracts in order to address state claims regarding gambling. The CFTC has submitted two new rules for review by the White House Office of Management and Budget. One of these rules combines event contracts with what regulators define as swaps, while the other emphasizes that these contracts are not related to gambling. The CFTC has taken on a full federal regulatory role in predicting markets, especially in overseeing tradable event contracts, which are typically binary bets on measurable outcomes such as sports events and election results. The CFTC is also working to regulate prediction markets and to counterstate legal challenges, as some states insist they have the authority to regulate certain contracts as gambling. A recent federal court ruling clearly stated that sports-related contracts under the CFTC's jurisdiction are not considered swaps and are therefore not subject to state gambling regulations. The CFTC's latest move is to counter this viewpoint by providing a clearer definition of swaps.