WSJ · 9 Oct, 21:20 · Finance briefing

CFTC Proposes to Expand Definition of Swaps to Include Prediction Markets Trading

The Commodity Futures Trading Commission has proposed expanding the legal definition of swaps to encompass prediction market trading activities.

What it means for you ↓ Courses for this story

28%average pay gap between certified and uncertified finance staff

2.4xfaster promotion with a professional credential

83%of finance leaders rank upskilling a top-3 priority

20days to your first credential

The briefing

The story
in brief.

What happened, who it affects, and why it landed on our intelligence desk — in plain English, sixty seconds or less.

The Commodity Futures Trading Commission has proposed expanding the legal definition of swaps to encompass prediction market trading activities. This regulatory shift aims to bring these emerging financial instruments under stricter federal oversight, aligning them with existing derivatives frameworks. The proposal signals a significant move towards greater transparency and investor protection in this growing sector. For professionals, this indicates that prediction markets are maturing from niche platforms into regulated financial markets, necessitating a deeper understanding of compliance requirements and the specific mechanics of swap regulations within the broader derivatives landscape.

Employer demand for Compliance And Governance skills — indexed growth since 2019
Indicative index of skill mentions in professional job postings for the field this story moves (2019 = 1)

Your move

What this means
for your career.

Every headline redistributes opportunity. Here is who this one rewards — and how to be on the right side of it.

You must adapt to a rapidly evolving regulatory landscape where compliance is no longer optional. This development elevates the value of specialists in financial regulation, derivatives law, and risk management. If you work in fintech or legal advisory, you should immediately deepen your knowledge of CFTC rules and swap documentation. Smart professionals will proactively update their skill sets in regulatory technology and financial compliance to advise clients or guide internal strategy. Ignoring this shift risks professional obsolescence as the industry standardises. Focus on understanding how prediction markets function as derivatives and the specific reporting obligations this entails. Position yourself as an expert who can navigate the intersection of innovative market structures and strict regulatory frameworks, ensuring your career remains resilient against future policy changes.

For this story, the fields that convert it into pay are Compliance And Governance, Finance and Accounting, Risk Management Strategies and Law — exactly the programmes matched below. The chart shows the indicative salary uplift certified professionals report in each of those fields; every one of them is a click away, from £79, finishing in as few as 20 days.

Indicative salary uplift in the fields matched to this story
Indicative ranges from published continuing-education salary studies, by field — each field is a recommended course below

Matched to this story

Enrol in these
to benefit.

These programmes position you for exactly this shift — online, self-paced, and finishing with a verifiable certificate you can share the day you pass.