CFTC Considers Action Against Crypto.com Sports Contracts

The U.S. Commodity Futures Trading Commission (CFTC) is reportedly debating whether to investigate Crypto.com’s new futures contracts, which allow users to bet on football outcomes, including the Super Bowl.

While the contracts are already live, the CFTC is considering a 90-day review to determine if they violate gaming laws, with any potential action coming after the Super Bowl on February 9.

Crypto.com informed the CFTC in December of its plans to launch the contracts but faced no immediate review due to holiday schedules and a potential government shutdown. These contracts, which let users wager up to 2,500 positions at $100 each, have sparked questions about the regulation of event-based betting markets.

This move aligns with the CFTC’s ongoing battle over event contracts, including its appeal against Kalshi’s election betting offerings and its scrutiny of decentralized platforms like Polymarket.

A Crypto.com spokesperson defended the legality of its contracts, citing clarity from prior rulings, while criticizing the timing of the potential review as the CFTC transitions to new leadership, likely pro-crypto Commissioner Summer Mersinger.

The decision could shape the regulatory landscape for event-based trading and its role in the growing intersection of finance and entertainment.