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Crypto.com and Novig exchanges sue Missouri over sports event contracts, BitcoinCasinos reports
- Crypto.com and Novig exchanges sue Missouri over sports event contracts, BitcoinCasinos reports — North American Derivatives Exchange, the CFTC-regulated exchange behind Crypto.com prediction markets, filed suit in the Western District of Missouri on October 16, and Ludlow Exchange, which does business as Novig, filed a companion suit in the Eastern District the same day, arguing the Commodity Exchange Act preempts Missouri gambling law. The suits answer September cease-and-desist letters to six operators that gave them 30 days to stop serving Missouri or obtain a state license, pay a 10 percent tax on adjusted gross revenue and pay license fees of up to 500,000 dollars. (BitcoinCasinos)
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