Crypto.com And Novig Take Missouri Prediction-Market Fight To Federal Court
Summary
North American Derivatives Exchange, which supports Crypto.com’s prediction offering, and Novig operator Ludlow Exchange sued Missouri after receiving cease-and-desist notices over sports event contracts. They argue federally regulated contracts fall under CFTC oversight rather than state gambling rules and seek to limit enforcement while the courts consider jurisdiction. Missouri says contracts tied to sporting outcomes are gambling and must comply with state wagering laws. Other platforms, including Kalshi and Polymarket, also received notices but had not filed similar Missouri cases. The lawsuits are preliminary; no court has decided whether the state can restrict these markets.
