CFTC Rules Prevail

The CFTC finalizes the two rules and persuades appellate courts that election and similar event contracts can be regulated as swaps. This is plausible because agencies often respond to adverse rulings by reframing authority through formal rulemaking rather than relying on case-by-case denials.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.