Crypto.com rejects the CFTC’s request to suspend Super Bowl sports contracts in 50 states: report

Crypto.com rejected the Commodity Futures Trading Commission’s request to halt all trading related to sports contracts, as the commission decided to examine whether it had violated any regulations regarding the game.

According to a recent Bloomberg report, the CFTC has asked the crypto exchange to suspend trading of all sports-related contracts as commissioners aim to conduct an investigation into whether the contracts violate any regulations.

In response, a spokesperson for Crypto.com said in a statement that the firm had rejected the agency’s request to halt all trading for its long-awaited sports contracts. The firm expressed disappointment with the agency’s approach, which appears to contradict the incoming Trump administration’s stance on trade and digital assets.

“We are committed to working with the CFTC and will continue to support our customers and the purchase and sale of our sports title event contracts in all 50 states as we review the CFTC’s notice,” the spokesperson said.

According to the report, the CFTC wants Crypto.com to suspend all transactions for its sports-related contracts that began in late December; thus, it can conduct a review that could potentially prohibit the trading of contracts if the contracts are not fulfilled. meet the requirements.

As previously reported by Crypto.news, Crypto.com had notified the CFTC of its plans to release future contract trading that would allow investors to bet on the outcomes of major sporting events ahead of its official launch. However, the agency did not have a chance to review these contracts before they were released two days before Christmas.

The CFTC is known to subject betting contracts to a lot of scrutiny, especially bets on the outcomes of sporting events, wars, assassinations, Grammy wins, and other activities not related to the public interest.

Alongside Crypto.com, Polymarket allows investors to bet on Super Bowl results as well as other major sports events. Although it claimed these contracts were not available to its U.S. users, the CFTC suspended contract trading on Kalshi and other exchanges last December over whether the alleged assassin of UnitedHealthcare CEO Brian Thompson would plead guilty to murder charges.