CME stops adding new sports and awards futures, winding down prediction markets

Overview

Updated Sep 12

In January 2026, CME began listing event contract swaps on sports and cultural awards. On September 11, after seven filings that added football, basketball, tennis, elections and the Oscars, the exchange stopped adding new expiries.

Existing contracts trade until they expire; none will be replaced. The wind-down pulls the largest traditional exchange out of prediction markets just as courts split on whether these contracts are regulated derivatives or plain gambling.

Why it matters

CME's exit narrows the institutional path for sports event contracts, leaving Kalshi and state regulators to settle the fight.

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Key Indicators

CFTC filings by CME listing new event contract swaps in 2026

Filings ran from January 13 to June 23, covering sports, Oscars, elections and tennis.

Months from first listing to wind-down

CME began listing event contracts in mid-January and stopped adding expiries on September 11.

Appeals courts split on sports event contract regulation

Third Circuit protected Kalshi from New Jersey enforcement; Ninth Circuit let Nevada regulate it as gambling.

Voices

Curated perspectives — historical figures and your fellow readers.

People Involved

Terry Duffy

Chairman and chief executive, Chicago Mercantile Exchange

Leads CME as it exits event contract swaps

Organizations Involved

Chicago Mercantile Exchange (CME)

Designated contract market

Winding down sports and cultural event contract swaps

The world's largest futures exchange and operator of the CME Globex electronic trading platform.

Commodity Futures Trading Commission

Federal regulator

Oversees event contract swaps on designated contract markets

The federal agency that regulates designated contract markets and event contract swaps under the Commodity Exchange Act.

Kalshi

Prediction market

Continues listing sports event contracts under legal challenge

A regulated prediction market exchange whose sports contracts face state gambling enforcement actions.

Timeline

January 2026 September 2026

8 events Latest: September 11th, 2026 · 2 months ago

Tap a bar to jump to that date

September 2026
CME stops adding new sports and awards expiries
Latest Regulatory Filing

CME self-certifies it will offer no additional expiries for sports and cultural event contract swaps on Globex.
September 11th, 2026
June 2026
CME adds more soccer and tennis contracts
Regulatory Filing

Additional international soccer and pro tennis tournament contracts are listed.
June 23rd, 2026
April 2026
CME lists U.S. elections contracts
Regulatory Filing

U.S. elections, pro baseball, club soccer and pro tennis tournament contracts are added.
April 14th, 2026
March 2026
CME adds soccer and basketball combos
Regulatory Filing

International soccer and pro basketball combination contracts, plus more golf tournaments, are listed.
March 26th, 2026
CME lists golf and tennis contracts
Regulatory Filing

Golf tournaments, pro tennis tournaments and college basketball contracts are added.
March 10th, 2026
February 2026
CME lists Oscars and pro baseball contracts
Regulatory Filing

Pro baseball season champion, Oscars awards and college basketball point spread contracts become effective February 12.
February 10th, 2026
January 2026
CME adds tennis and football championship contracts
Regulatory Filing

College basketball, tennis and pro football championship touchdown contracts are added.
January 20th, 2026
CME files first event contract swaps
Regulatory Filing

CME lists pro and college football, hockey and basketball game total points contracts on CME Globex.
January 13th, 2026

Scenarios

CME exits event contract swaps entirely

Likely Resolves by Q2 2027

Discussed by: DeFi Rate and Noah Intelligence coverage of CME's strategic retreat

Existing sports and cultural contracts expire over the coming months. CME files no new listings, matching its September 11 rule change. Without a new filing the product line simply runs off and the exchange moves on.

CME returns to event contracts after regulatory clarity

Possible Resolves by End of 2027

Discussed by: Market observers cited in DeFi Rate coverage

If courts or Congress resolve whether sports event contracts are swaps or gambling, CME could file new listings. The exchange's September filing certifies that its contracts are not readily subject to manipulation, a position it could revive if the legal ground firms up.

CME narrows to non-sports event contracts

Uncertain Resolves by Q2 2027

Discussed by: Extension of CME's April filing covering U.S. elections

CME could resume listings for event contracts that avoid gambling scrutiny, such as elections or economic data, while leaving sports and awards off. Its April 14 filing already shows it listed U.S. election contracts before the wind-down.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

2008-2013

Intrade shutdown (2013)

Intrade, an Irish prediction market, sold event contracts on elections, sports and awards to global users. In 2012 the U.S. Commodity Futures Trading Commission charged it with selling unregistered commodity options to American customers.

Then

Intrade halted U.S. trading, froze customer withdrawals and shut down by 2013.

Now

The case showed prediction markets could be ended by regulatory action even without a formal product ban.

Why this matters now

CME's wind-down is voluntary, not ordered, but it shows the same underlying fragility: event contracts sit at the boundary of derivatives and wagering, and regulators or courts can move the line.

May 2018

PASPA struck down (2018)

The Supreme Court ruled in Murphy v. NCAA that a 1992 federal law banning most state sports betting violated the Tenth Amendment. More than 30 states legalized sports wagering in the years that followed.

Then

Sports betting expanded rapidly across states, each with its own regulatory regime.

Now

State gambling regulators now claim authority over sports-adjacent products, including exchange-traded event contracts.

Why this matters now

The state-by-state sports betting regime created the conflict CME faced: a product that is legal derivatives on a federal exchange yet looks like gambling to state regulators.