Crypto.com and Robinhood ask US Supreme Court to review sports contracts
Crypto.com and Robinhood have separately asked the US Supreme Court to clarify whether federal law gives the Commodity Futures Trading Commission exclusive authority over sports event contracts, according to reports. Their petitions follow a Ninth Circuit ruling involving Nevada that rejected federal pre-emption of state gambling rules; Robinhood said it wants the court to review the cases together.
A Supreme Court review could affect how prediction-market platforms navigate conflicting federal and state oversight of sports contracts.