CFTC wants more information on Crypto.com, Kalshi Super Bowl contracts

2025-2-6 15:57

The CFTC is questioning whether Crypto.com and Kalshi meet derivatives regulations In December, Crypto.com’s CEO said its derivatives trading platform was the “first regulated platform in the US” Robinhood launched its Super Bowl event contracts on Monday

Crypto.com and prediction marketplace Kalshi have been asked to provide more information to the US Commodity Futures Trading Commission (CFTC) to determine if their Super Bowl event contracts comply with derivatives regulations.

In December 2024, Crypto.com launched its derivatives trading platform, enabling users to place bets on the outcome of sports events, including the Super Bowl LIX on February 9, 2025, between reigning champions Kansas City Chiefs and the Philadelphia Eagles.

In an announcement, Kris Marszalek, co-founder and CEO of Crypto.com, said it was the “first regulated platform in the US to offer it to our users.”

Kalshi launched its prediction platform days after President Donald Trump’s inauguration in January. It launched its Kansas City vs Philadelphia Football prediction on January 23.

In a report from Bloomberg, the CFTC said: “We are continuing to review the contracts in accordance with our regulations.”

Bloomberg previously reported, in January, that a five-member group of CFTC commissioners had decided to vote on a 90-day review period for contracts. The review would extend past this Sunday’s Super Bowl game.

The CFTC is expected to vote by mid-April on whether to bar event contracts or issue a new ruling.

Robinhood enters the field

The CFTC’s measures come as Robinhood announced on Monday that it was launching its event contracts and letting users vote on the game’s outcome. This will be done through Kalshi’s exchange.

Primarily focused on its stock-trading background, Robinhood’s expansion into event contracts is another way for the platform to engage with users keen to get into the market.

The post CFTC wants more information on Crypto.com, Kalshi Super Bowl contracts appeared first on CoinJournal.

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