Morgan Lewis Partner Rob Schwartz Testifies on Sports Event Prediction Markets Before US House Agriculture Subcommittee

NEW YORK, July 22, 2026: Morgan Lewis partner and former general counsel at the Commodity Futures Trading Commission (CFTC) Rob Schwartz testified before the US House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development during a hearing examining customer protections and market integrity in sports event prediction markets. In his testimony, Rob discussed the Commodity Exchange Act’s (CEA’s) framework for event contracts, the CFTC’s exclusive jurisdiction, and the agency’s authority to determine whether contracts are consistent with the public interest.

Rob noted that “the CFTC has the tools it needs under the CEA to implement the policy it selects. It has powerful authority to disallow exchanges from listing problematic contracts.... The key, though, is that Congress has channeled that type of disagreement to the CFTC. Not to the courts, not to the 50 states, and, without further action by Congress, not to any other decisionmaker.”

Read Rob’s full written testimony or watch the hearing.

Rob spent more than a decade at the CFTC, where he served as the agency’s chief litigator in his role as deputy general counsel for litigation, enforcement, and adjudication before becoming general counsel. At Morgan Lewis, he is part of the firm’s 170-member global investment management practice and participates in various industry groups, including one on digital assets.