CFTC Reviews Crypto.com Super Bowl Contracts, Seeks Pause
- Company rejects agency’s request to suspend sports trading
- Regulators grappling with limits of prohibitions on gaming
Regulators have been grappling with what kind of trading should be allowed in the burgeoning event contracts industry.
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
The Commodity Futures Trading Commission put Super Bowl and other sports-related derivatives contracts traded on Crypto.com’s exchange under review to determine whether they meet legal standards.
The agency said in a statement Tuesday it asked the company to pause trading of the contracts, which were launched on Dec. 23, while it considers whether they violate prohibitions on gaming. The 90-day review could result in a decision to permanently ban trading of the contracts.