According to CoinDesk, Polymarket filed to list "combinatorial outcome contracts" — effectively parlays — in U.S. sports event contracts with the CFTC on Wednesday, self-certifying the product for launch no earlier than May 21. Each parlay would resolve to $1 only if every underlying leg settles in the user's favor; a single loss zeroes the contract.

Separately, SEC Chairman Paul Atkins said his agency is seeking public input on event contract ETFs, acknowledging that "novel products raise novel questions" and noting ETF assets have tripled in seven years. The dual developments add fuel to an escalating jurisdictional fight, with the CFTC asserting exclusive federal authority under the Commodity Exchange Act while state regulators and gambling firms argue sports prediction markets infringe on state rights to regulate and tax gambling. The Supreme Court is widely expected to eventually take up the issue.