A Nevada judge denied Crypto.com’s request to block state gaming regulations, determining their sports contracts as ‘outcomes’ rather than ‘swaps’. This decision diverges from an earlier ruling favoring another market leader, Kalshi.
Legal experts assert this ruling could be overturned on appeal, with implications for ongoing tensions between prediction markets and regulatory bodies in the U.S. The Crypto.com situation emphasizes the evolving landscape of legal challenges facing this industry.
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