Supreme Court Sought to Clarify Federal Regulation of Sports Prediction Markets

Crypto.com and Robinhood are seeking clarification from the US Supreme Court on whether federally regulated sports prediction markets fall under federal commodities law or state gambling regulations.

The two companies have filed petitions, arguing that their contracts relating to sports events should be governed by federal derivatives frameworks rather than individual states' laws.

This comes as courts and regulators clash over the legal status of sports event contracts, with conflicting federal appeals court rulings creating uncertainty for the sector.