Missouri Faces Lawsuit From Crypto.com, Novig Over Sports Wagering Rules

Crypto.com and Novig have sued Missouri, seeking to block state laws that restrict sports event contracts. The filing targets rules the companies argue interfere with products they offer on federally regulated exchanges. Both firms list sports-linked contracts among their core offerings in the United States. Sports event contracts let users take positions on the outcome of games, similar in structure to other exchange-traded derivatives. Platforms offering them argue the products fall under federal commodities law, overseen by the Commodity Futures Trading Commission.