CFTC questions Crypto.com and Kalshi over Super Bowl wagers: report

Quick Take

  • The CFTC is questioning Crypto.com and Kalshi over whether their derivatives-based Super Bowl LIX sports events contracts are compliant.
  • Crypto.com in December launched a derivatives platform that lets users place wagers on the outcome of the Super Bowl LIX, which takes place this Sunday.

The Commodity Futures Trading Commission (CFTC) is questioning Crypto.com, a Singapore-based crypto exchange, and the prediction market Kalshi over whether their derivatives-based Super Bowl sports events contracts are compliant, reports Bloomberg.

On Dec. 23, 2024, Crypto.com launched a derivatives platform that let users place wagers on the outcome of the Super Bowl LIX, a football game set between the Kansas City Chiefs and Philadelphia Eagles on Feb. 9, 2025. Crypto.com co-founder and CEO Kris Marszalek said in a statement that its Sports Events Trading product was a regulated platform at the time of its launch.

Kalshi lets users trade contracts over the outcome of an event, and it rose to popularity ahead of the presidential election last year. The CFTC argued that Kalshi letting users bet on the outcome of the election diminished integrity. A federal court denied the CFTC's motion against Kalshi's election betting, the agency stated afterward that the ruling should be reversed, The Block previously reported. 

The Block reached out to the CFTC for comment.

Also on Monday, the crypto-friendly trading app Robinhood selected Kalshi to enable Super Bowl derivatives contract trading. Robinhood's derivatives platform had previously allowed consumers to trade on the outcome of the 2024 presidential election.


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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