It is a thing for all formats. No one starts off being the Monarch, but if someone becomes the Monarch for any reason, the game will always have a Monarch until the game ends.
The rules for the monarch apply to all Magic games, not just Conspiracy Draft games; as a result, it appears as C.R. 716 within section 7, Supplemental Rules, not within section 9, Casual Variants.
Aside from the integrated rule of "Whenever a creature deals combat damage to the monarch, its controller becomes the monarch" which is always in effect.
Question asked, question answered. Locking this before we get more off-topic comments.
-MadMage
Question asked, question answered. Locking this before we get more off-topic comments.
-MadMage