I don’t think this is settled law—I never said that. I think the argument for this not being under CFTC and thus federal jurisdiction is clear. I’m curious for someone to show the other argument. If someone just shows me my own argument back, as you did, I’m going to assume that sort of settles your view on it.
To the extent I’m challenging anything above, you’ll see it’s in rejecting anyone claiming this is obvious or settled.