The CFTC will start a review of two sports event contracts that Crypto.com self-certified and submitted to the regulator in December.
The CFTC’s review suggests that the regulator — even with its chairman about to depart — will not rubber-stamp every event contract.
The contracts at issue are based on the winner of a league’s championship, such as the Super Bowl, and the hometown that will host a celebration, such as a parade, for the winners of that kind of event. “It is disappointing that the current and imminently departing CFTC leadership would take this action while not allowing the incoming CFTC leadership to determine how free markets operate under its administration,” a Crypto.com spokesperson said in a statement to Covers. “The majority’s decision to apply this rule contradicts recent Federal Court rulings and conflicts with the current Commission’s own statement set forth in its recent rule proposal.
Kalshi is now offering de facto wagering on a variety of things, including the next head coach of the Dallas Cowboys and the expected guests at Donald Trump’s inauguration on Jan. 20.
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