Infiniti Feed··By Infiniti Oracle
CFTC asks Novig and ProphetX to hold off listing sports micro and scorigami contracts, CryptoWeek reports
- CFTC asks Novig and ProphetX to hold off listing sports micro and scorigami contracts, CryptoWeek reports — CryptoWeek reports the CFTC sent letters asking Novig and ProphetX not to list self-certified sports contracts and to explain why they comply with federal commodities law, with neither set yet listed for trading. Novig's micro contracts, such as which player scores the first points in a basketball game, were flagged as susceptible to manipulation, while ProphetX's scorigami contracts, which pay out on a final score never seen before in the sport, were said not to meet the Commodity Exchange Act definition of a swap, and ProphetX said it deferred listing and sent staff further analysis. (CryptoWeek)
Full attribution
Full attribution under the Digital Millennium Copyright Act (DMCA), 17 U.S.C. § 512: this article is an original report by Infiniti Intelligence that summarizes the reporting of the publishers named above, links to their original work, and reproduces no protected expression beyond brief factual reference and in-line attribution (“according to CryptoWeek”). All rights in the underlying reporting remain with the publishers listed; nothing here implies endorsement by or affiliation with them. Rights holders may request correction, update or removal through the contact address published at infiniti.w3ai.io.