CFTC needs extra data on Crypto.com, Kalshi Tremendous Bowl Contracts

• The CFTC wonders if Crypto.com and Kalshi respect the rules of derivatives
• In December, CEO of Crypto.com mentioned that its derived buying and selling platform was the “first regulated platform in the USA”
• Robinhood launched its Tremendous Bowl occasion contracts on Monday

Crypto.com and the Kalshi prediction market have been invited to offer extra data to the American Future Buying and selling Fee (CFTC) to find out whether or not their Tremendous Bowl occasion contracts are in accordance with spinoff rules.

In December 2024, Crypto.com launched its derived buying and selling platform, permitting customers to position bets on the outcomes of sporting occasions, together with the Tremendous Bowl Lix on February 9, 2025, between the champions in title of the Champions of Champions Kansas Metropolis and the Eagles of Philadelphia.

In an advert, Kris Marszalek, co-founder and CEO of Crypto.com, mentioned it was the “first regulated platform in the USA to supply it to our customers”.

Kalshi launched a couple of days from the prediction platform after the inauguration of President Donald Trump in January. He launched his Kansas Metropolis vs Philadelphia soccer prediction on January 23.

In a Bloomberg report, the CFTC mentioned: “We proceed to look at contracts in accordance with our rules.”

Bloomberg beforehand reported, in January, {that a} group of CFTC commissioners with 5 members determined to vote on a 90 -day examination interval for contracts. The evaluation would lengthen after the Tremendous Bowl match on Sunday.

The CFTC ought to vote in mid-April on the chance to ban occasion contracts or render a brand new determination.

Robinhood enters the sector

CFTC measures are concerned whereas Robinhood introduced on Monday that it launched its occasion contracts and letting customers vote on the results of the sport. This shall be achieved due to the alternate of Kalshi.

Primarily targeted on its inventory market historical past, Robinhood's growth in occasion contracts is one other method for the platform to have interaction with customers wishing to enter the market.