Federal regulators may launch an investigation into the legality of Crypto.com futures contracts, which offer investors the opportunity to place wagers on major football games, including the Super Bowl.
This evaluation coincides with the Commodity Futures Trading Commission (CFTC) voting on a proposal to subject these contracts to a 90-day review period.
Possible Ban on Crypto.com’s Betting Contracts Being Considered by Regulators The review, expected to conclude after the February 9 Super Bowl LIX, may result in a ban on the exchange’s futures offering, according to Bloomberg sources.
The main concern is whether these contracts, which are traded on the Crypto.com Chicago-based derivatives exchange, violate gambling laws. On December 23, Crypto.com revealed their sports event trading products, through which users can bet on the outcomes of games.
