CFTC Creating Committee has started inquiries at Crypto.com and KALSHI InC. Regarding the recently launched juvenile contracts linked to Super Bowl I mentioned By Bloomberg.
Crypto.com Cooperation pledge: ready to address CFTC questions
Under the current laws, CFTC has the authority to request additional information from autonomous companies Financial products. This includes proving that their offers cannot be easily manipulated and that they meet the various regulatory requirements.
The agency reviews the responses it receives, which may lead to enforcement procedures or formulation of new regulations. A CFTC spokesman told Bloomberg via email that they are actively reviewing the contracts concerned.
The agency recently announced plans to hold public warehouses dealing with emerging issues in Mashqat marketIncluding the prosperous category of juvenile contracts.
Crypto.com has expressed its confidence in the legitimacy of its events contracts and is ready to cooperate with CFTC inquiries.
In a statement, the company highlighted its belief that CFTC is the appropriate organizer to ensure market safety and address controls in all states. “We will continue to submit these contracts while working with CFTC,” the spokesperson confirmed.
New opportunities appear through the Kalshi exchange
Earlier this year, CFTC voted on placing Crypto.com sports contracts under a special organizational review to make sure whether it fell under the category GamesWhich usually attracts the increasing scrutiny in relation to the public interest.
Recently, Crypto.com withdrew two files that were under review and created a new contract related to spectators and associated industries, according to public files with the agency.
On the other hand, she did not face Calci contracts, which were launched shortly after President Donald Trump’s inauguration is similar Scrutiny From CFTC.
The motivation behind the CFTC inquiry stems from the sudden appearance of the sport -related events that started Crypto.com late last year.
These derivatives allow traders to roam the bilateral results, such as predicting whether the Kansas City Chevings team or Philadelphia Eagles will win in Super Bowl. According to the cftc of the launch of these contracts on December 23.
In addition to the complexity, Robinhood Markets announced on Monday that it will provide its sports trading options via Kalshi’s exchange For Robinhood derivative customers.
The company noticed the potential of juvenile contracts as an emerging assets category, saying: “We are aware of an opportunity to better serve our customers as their interests converge through markets, news, sports and entertainment.”
Distinctive image from Dall-E, Chart from TradingView.com
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