[CFTC Proposes Including Event Contracts on Sports, Politics, and More in the Definition of Swaps] According to an official announcement from the CFTC, the U.S. Commodity Futures Trading Commission (CFTC) has issued a proposed rule notice to further define the term "swap," explicitly including event contracts based on sports, politics, culture, and weather-related events. CFTC Chairman Michael Selig stated that such products fall under the category of commodity derivatives as defined by the Commodity Exchange Act and are under the exclusive jurisdiction of the CFTC. The proposal will be open for public comment for 30 days. On the same day, the CFTC also issued an interim final rule clarifying that sports betting, casino games, and other casino-related gambling products do not fall under the definition of swaps.