CFTC Takes Aim at Crypto.com and Kalshi Over Sports Crypto Bets
by aria-crypto.com
February 4, 2025 at 19:45
CFTC Takes Aim at Crypto.com and Kalshi Over Sports Crypto Bets
The Commodity Futures Trading Commission (CFTC) is currently investigating Crypto.com and Kalshi to determine if their Super Bowl event contracts fall under "gaming" according to existing commodities regulations. This probe raises significant legal concerns about the classification of sports betting on crypto platforms. The outcome of this investigation could greatly affect the regulatory approach to these types of sports prediction markets. Crypto lawyer Aaron Brogan has commented that the resolution of whether these markets are considered gaming will significantly influence the CFTC's potential regulatory actions. There remains a high level of uncertainty about how the legal framework will be applied, leading to varying interpretations that impact these platforms' operations. Meanwhile, Kalshi has not slowed down, continuing to expand in the sports betting market and launching new contracts. The cryptocurrency community is eagerly anticipating the CFTC’s ruling, expected after the Super Bowl, as it will set a critical precedent for the treatment of sports-related event contracts within the digital asset space. The decision could either tighten regulations or broaden the legal parameters for these innovative crypto betting markets.
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