Reported 5 days ago
The Commodity Futures Trading Commission (CFTC) is considering a review of the legality of Crypto.com's futures contracts that allow betting on major football games, including the Super Bowl. Despite the CFTC's limited ability to halt trading immediately, they may impose a ban post-review. The effectiveness of these contracts raises questions about compliance with gaming laws, as well as the challenges faced by regulators in navigating rapidly evolving event contract practices. This situation highlights the increasing competition in the sports betting landscape, particularly as Crypto.com offers nationwide access, unlike state-regulated sportsbooks.
Source: YAHOO