KalshiEx LLC and North American Derivatives Exchange Inc. filed separate lawsuits in federal court claiming that Maryland’s gaming commission’s effort to regulate futures derivatives—or event contracts—they offer in the state because they’re already regulated by federal law.
Event contracts are “derivatives or swaps whose returns depend on the outcome of a specified event,” such as a sporting event, according to NADE’s complaint filed Monday in the US District Court for the District of Maryland.
KalshiEx further explained, “Derivatives contracts are financial tools used to mitigate risk and disseminate pricing information,” its complaint filed Monday in the same Maryland court says. ...
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