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Crypto.com and Kalshi Face CFTC Review Over Super Bowl Bets
Last Updated: February 04, 2025
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Key Takeaways
- The CFTC is reviewing Crypto.com and Kalshi’s Super Bowl betting contracts but has not halted them;
- These markets remain open since the CFTC’s 90-day review will not conclude before the game;
- The agency may ban the contracts later if they do not comply with derivatives regulations.
The Commodity Futures Trading Commission (CFTC) is investigating betting markets tied to the Super Bowl, specifically those offered by Crypto.com
The CFTC has asked both platforms to explain how their contracts follow derivatives rules. While the review is ongoing, these markets remain open.
Crypto.com informed the CFTC on December 19, 2024, that it planned to launch its Super Bowl-related contracts on December 23, 2024. However, due to the holiday season and concerns over a possible government shutdown, the agency did not have time to review them before they went live.
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The CFTC has also started looking into Kalshi’s event-based contracts, including a market predicting the winner of the February 9 game.
Kalshi launched its Super Bowl prediction market on January 24, which has already seen over $2.4 million in trading. While these markets have drawn interest, their long-term approval remains uncertain.
Under existing regulations, companies can introduce new financial products if they “self-certify” that their offerings meet legal requirements and cannot be easily manipulated. The CFTC then decides whether further action is necessary.
Since the CFTC takes 90 days to complete a review, it cannot halt these contracts before the event takes place. However, the agency could decide to ban them afterward if they do not meet compliance standards.
Meanwhile, Coinbase
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