Polymarket · U.S. · New York · The Block
Crypto.com, Novig sue Missouri over sports event contracts; Kalshi, Polymarket, Robinhood hold off
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Crypto.com's prediction market exchange and Novig sued Missouri officials in federal court on Friday, asking judges to bar the state from enforcing its sports wagering laws against their event contracts as cease-and-desist deadlines set by Attorney General Catherine Hanaway ran out.
Key facts
- North American Derivatives Exchange, the CFTC-registered exchange behind Crypto.com's OG prediction markets platform, filed its lawsuit in the Western District of Missouri
- Kalshi was the first of the six companies to respond to Hanaway's letters, and the attorney general's office described "ongoing discussions" with the company, Spectrum News reported on Oct. 2
- Novig, which has sued officials in several other states including Wisconsin, filed its lawsuit in Missouri's Eastern District through its exchange operator, Ludlow Exchange LLC. Novig's suit asks
- The complaint says Hanaway "incorrectly addressed" her letter to Foris DAX, Inc. instead of the exchange
Summary
Kalshi, Polymarket, Robinhood and Underdog received the same letters in September. Hanaway sent the letters on Sept. 16 and 17, giving each operator 30 days to stop offering sports event contracts to Missourians or get a license from the Missouri Gaming Commission, which has overseen legal sports wagering since voters approved it in November 2024, and pay the state's 10% wagering tax. "Companies cannot repackage sports bets as 'event contracts' to evade Missouri law," Hanaway said on X. North American Derivatives Exchange, the CFTC-registered exchange behind Crypto.com's OG prediction markets platform, filed its lawsuit in the Western District of Missouri.