Novig and Crypto.com’s Exchange Ask Federal Courts to Shield Them From Missouri Enforcement
Photo: Unchained
The two CFTC-regulated exchanges argue federal law preempts the sports wagering rules Missouri’s attorney general moved to enforce against six prediction market operators in September. Novig and Crypto.com’s U.S. derivatives exchange have asked federal judges to stop Missouri from treating their sports event contracts as illegal, unlicensed betting. Both suits were filed on Friday, Oct. 16, in separate federal districts. Ludlow Exchange, which operates as Novig, filed a 42-page complaint in the Eastern District of Missouri against Attorney General Catherine Hanaway , Missouri Gaming Commission Executive Director Michael A. Leara and commission Chair Jan Zimmerman.
Source: Unchained
