Recent CFTC staff advisories and a June 2026 notice of proposed rulemaking have clarified self-certification procedures under Regulation 40.2 while flagging broad template filings and classifying most sports outcomes as “gaming” subject to heightened public-interest review. Designated contract markets such as Kalshi, ErisX, and Aristotle Exchange have already listed or attempted sports event contracts, creating competitive pressure for others to follow before the December 31 deadline. Key swing factors include finalization of the proposed rule, league engagement requirements, and any targeted enforcement stays. Traders are watching for new product filings and CFTC responses in the coming months that could either accelerate or chill additional self-certifications.