Crypto.com Can’t Shed Nevada Oversight of Sports Contracts (1)

North American Derivatives Exchange Inc., which does business as Crypto.com, failed to convince a federal judge that Nevada gaming enforcers can’t regulate its offerings letting people trade on the outcome of sports-related events.

These sports event contracts, which allow customers to wager on the outcome of specific happenings such as the Super Bowl, weren’t “swaps” falling under a federal agency’s exclusive jurisdiction as alleged, Judge Andrew P. Gordon said Tuesday for the US District Court for the District of Nevada. Gordon denied Crypto.com’s request for a declaration that Nevada’s laws are preempted and an order permanently enjoining enforcement against ...