Crypto.com and Novig filed federal lawsuits against Missouri on October 16, 2026, challenging the state attorney general’s orders to stop offering sports event contracts to Missouri residents or obtain the required licenses. Both platforms argue that their contracts are financial derivatives regulated by the Commodity Futures Trading Commission, claiming federal law preempts state gambling rules. Missouri legalized sports betting through Amendment 2 passed on November 5, 2024, and imposes a 10% tax on adjusted gross revenue with application fees reaching $500,000. Four other platforms, including Kalshi, Polymarket, Robinhood and Underdog, also received cease-and-desist letters but have not filed lawsuits.
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