CFTC Reviews Crypto.com Super Bowl Contracts, Seeks Pause (1)

The Commodity Futures Trading Commission put Super Bowl and other sports-related derivatives contracts traded on Crypto.com’s exchange under review to determine whether they meet legal standards.

The agency said in a statement Tuesday it asked the company to pause trading of the contracts, which were launched on Dec. 23, while it considers whether they violate prohibitions on gaming. The 90-day review could result in a decision to permanently ban trading of the contracts.

A Crypto.com spokesperson said the company rejected the CFTC’s request to suspend trading, and said it’s disappointing that the agency didn’t defer the matter to the ...