Crypto.com Sues Nevada Over Sports Derivatives Ban

Crypto.com Sues Nevada Over Sports Derivatives Ban

Crypto.com, via its derivatives affiliate North American Derivatives Exchange Inc. (Nadex), has filed a federal lawsuit against the Nevada Gaming Control Board (NGCB), challenging the state’s authority to restrict the trading of sports event-based derivative contracts. Filed on June 3 in a Nevada federal court, the complaint asserts that the NGCB acted beyond its jurisdiction by issuing a cease-and-desist order on May 20. The regulator allege...

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