Crypto.com

FanDuel Predicts Moves Sports Contracts Off CME Group

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FanDuel Predicts Moves Sports Contracts Off CME Group

All FanDuel Predicts sports and novelties contracts move to Crypto.com’s exchange, Flutter said Wednesday. CME Group keeps its 51% stake in the venture but will clear only financial contracts. FanDuel Predicts trades under federal commodities rules rather than state gaming licenses and now runs nationwide. Flutter posted a $296 million net loss as group revenue … Read more

CFTC Loses Bid To Shield Prediction Markets In Wisconsin

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CFTC Loses Bid To Shield Prediction Markets In Wisconsin

Judge William Griesbach denied the CFTC’s request for a preliminary injunction against Wisconsin in a 28-page decision filed July 29. The court said the agency is unlikely to prove sports event contracts are swaps or that federal law preempts Wisconsin’s gambling statute. Two days earlier the same federal plaintiffs won an injunction against Minnesota, splitting … Read more