The Commodities and Futures Trading Commission (CFTC) is evaluating Crypto.com's recently launched sports event contracts, with particular focus on their Super Bowl derivatives offering.

According to Bloomberg News sources, the CFTC is voting on implementing a 90-day review period for these contracts. However, this review would conclude after the Super Bowl, scheduled for February 9 in New Orleans, allowing Crypto.com to proceed with its Super Bowl-related offerings.

The regulatory scrutiny primarily concerns potential violations of gaming laws. While Crypto.com informed the CFTC of their plans before Christmas, the holiday season prevented thorough initial review.

The timing is notable as it coincides with the presidential transition. A Crypto.com representative expressed disappointment that the current CFTC leadership would consider this action instead of allowing the incoming administration to make determinations about free market operations.

Key developments include:

• Crypto.com recently expanded its sports event contracts to include NFL conference championships and college football playoff games
• The platform operates under federal regulation, allowing nationwide service unlike state-regulated sportsbooks
• Donald Trump Jr. is joining Kalshi, a major event contract platform, as a strategic adviser
• The incoming administration is expected to take a more crypto-friendly stance

The sports event contracts market represents a potential new frontier in wagering, with several brokerage firms showing interest. These federally regulated platforms could pose significant competition to traditional sportsbooks, which operate under state-by-state approval. Currently, sports wagering is legal in 38 states plus Washington, DC, with Missouri set to join later this year.

Related Articles

Previous Articles