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CFTC tells Novig and ProphetX to hold off on micro sports event contracts, iGamingWorld reports
- CFTC tells Novig and ProphetX to hold off on micro sports event contracts, iGamingWorld reports — The Commodity Futures Trading Commission sent communications to Novig and ProphetX instructing both registered exchanges to hold off on listing certain sports prediction markets, including planned micro event contracts such as which player will score first. The agency requested justification for why the offerings should be permissible under the Commodity Exchange Act definition of a swap, following its finalized proposed rule on sports event contracts now open for public comment. (iGamingWorld)
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