Two companies, North American Derivatives Exchange (Crypto.com’s prediction product) and Ludlow Exchange (Novig’s operator), filed federal lawsuits against Missouri on October 16, responding to cease-and-desist letters received in September. Their core argument is that these financial contracts based on sporting events fall under the jurisdiction of the CFTC (Commodity Futures Trading Commission), not state gambling rules. Missouri Attorney General Catherine Hanaway had ordered six platforms to stop offering these contracts to state residents. Both companies are asking courts to halt state enforcement while the question of federal jurisdiction is resolved.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
