Novig challenges Wisconsin enforcement powers over sports event contracts
By SectorWire desk ·
Summary
Novig and parent Ludlow Exchange LLC sued Wisconsin officials to protect continued operations in the state. Ludlow filed against the Wisconsin Department of Justice after Novig entered the market in early August. The company argues federal derivatives regulation governs its sports event contracts and seeks to block state enforcement.
Why it matters
Novig’s lawsuit seeks continued Wisconsin operations by asserting federal derivatives regulation over its sports event contracts.