[cm2187]

I am confused. Are bets considered securities? I thought the CFTC and insider dealing laws applied to securities, not betting.

[tsimionescu]

If they recognize they are betting companies, they have no right to operate in the majority of the states. So, they found the CFTC willing to pretend that these betting contracts are in fact securities, and that is how they can legally operate.

[rafram]

Commodities, not securities. The CFTC doesn’t regulate securities.