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CFTC tells Novig and ProphetX to pause scorigami and micro contracts in warning shot to prediction markets, Front Office Sports reports
- CFTC tells Novig and ProphetX to pause scorigami and micro contracts in warning shot to prediction markets, Front Office Sports reports — Front Office Sports reports the CFTC sent letters this week telling Novig and ProphetX not to list self-certified sports contracts, calling Novig's micro contracts susceptible to manipulation and saying ProphetX's scorigami contracts do not meet the definition of a swap under the Commodity Exchange Act. Senior CFTC officials have also warned DraftKings and FanDuel that they risk similar action if they list micro contracts. (Front Office Sports)
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