The Commodity Futures Trading Commission submitted two new rules for its event contracts to the Office of Information and Regulatory Affairs, both of which may have a significant impact on popular prediction market contracts.

Both of the rules were submitted to the federal department this week . One seeks to expand the definition of a “swap” to include event contracts and the second seeks to expand the definition of a “swap” to exclude casino-style gambling products.

The full language for both of these rules has yet to be published.

The proposed Commodity Futures Trading Commission (CFTC) rule to exclude casino-style gambling products will likely put an end to any plans prediction market operators had to potentially offer event contracts based on casino games such as roulette, slot machines, or card games.

If approved by the Office of Information and Regulatory Affairs, the rule will go into effect immediately. According to Bloomberg , the rule would go into effect as soon as it’s published in the Federal Register, without the need to accept public comments on the measure.

While no casino-type games are offered yet by prediction markets, it’s easy to see how they potentially could be offered. Event contracts could be offered on the next spin of a roulette wheel, for instance, with traders taking up positions on what number or color space the roulette ball could land.

The CFTC seems to be taking the steps to prohibit these types of event contracts before market makers can begin offering them to traders.

The second rule, which if approved will have to go through a review process before going into effect, seeks to officially expand the definition of a “swap” to include event contracts. The basis of what defines a swap, and if sports event contracts are classified as swaps, is the central question of several lawsuits throughout the country between prediction market operators and state gaming regulators.