TL;DR: The CFTC is proposing crypto rules that would pull most retail spot trading under its oversight and arguing that sports event contracts are swaps, while courts and the NFL push back. Deep cuts to staff and enforcement at the agency could also prompt a federal probe.

Key Takeaways:

The U.S. Commodity Futures Trading Commission (CFTC) is taking steps to burnish its role as the primary regulator of digital assets, but its efforts to erect a regulatory moat around prediction…