🚨JUST IN: The CFTC has submitted an interim final rule titled “Further Definition of ‘Swap’ to Exclude Casino-Style Gambling Products” and a proposed rule titled “Further Definition of ‘Swap’ to Include Event Contracts” to the White House’s Office of Information and Regulatory Affairs (OIRA) for review. OIRA review is a procedural step that precedes public release, and the agency has not yet made the text public, so the specific provisions remain unclear. However, the interim final rule, once released, would take effect immediately upon publication, bypassing the standard notice and public comment period. If the interim rule goes beyond the title’s suggestion (e.g., excluding casino-style products) and provides tacit authorization for sports-event contracts, it could prompt immediate APA litigation in federal court.