Several members of a House of Representatives committee questioned the legality of sports event contracts during a hearing on authorizing funding for the Commodity Futures Trading Commission (CFTC), with one arguing that any reauthorization package should be tied to an agreement to change the rules on sports contracts.
The House Committee on Agriculture held a “stakeholder perspectives” session Thursday to discuss reauthorization of the CFTC.
Reauthorization is partially a symbolic move, as the CFTC continues to operate even if its funding is not “authorized.” However, the gesture is usually accompanied by amendments to the Commodity Exchange Act (CEA) or instructions to make changes to CFTC regulation, both of which have real consequences.
