CFTC mulling probe of Crypto.com over Super Bowl contracts: Report
The CFTC is considering probes on sports betting event contracts offered by Crypto.com weeks out from the popular Super Bowl match, Bloomberg reports.
The US Commodity Futures Trading Commission is reportedly deliberating on whether it should look into the legality of Crypto.com’s futures contracts allowing bets on football matches, including the upcoming Super Bowl.
The five CFTC Commissioners are voting on whether to pull the contracts into a 90-day review to determine if they violate gaming laws, Bloomberg reported on Jan. 14, citing people familiar with the matter.
The agency can’t immediately stop the trading of the contracts, and any review would wrap up after the Super Bowl on Feb. 9 — but the CFTC could ban the contracts after that.
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Author: Jesse Coghlan
