The United States of the United States Malalar Futures Trade Commission (CFTC), Cryptoom and Kalshi started to examine the super Bowl event contracts.
CFTC’s review
CFTC, Cryptoom’s sports activity contracts contained in some applications, the existing commodity regulations contain elements to be evaluated, he said. Authorities expressed their concerns that the products may lead to possible regulation violations. The relevant investigation is carried out in order to question the compliance of these products in terms of market regulations and legal obligations.
Robinhood’s decision
Robinhood announced that it plans to offer a foresight market for Super Bowl through Kalshi. However, after CFTC’s request to restrict customer access, he withdrew his plan. The company has announced that it plans to close its existing positions or conclude the situation to its customers.
“While we continued our efforts to understand his concerns with CFTC, we stopped the implementation of the pro football championship market. We have presented the product to approximately 1 %of our customers and we plan to offer those who have made transactions to close their positions or to conclude. Although we have communicated regularly with CFTC, this situation was disappointed with us. In the future, we will continue our cooperation with CFTC to present a more comprehensive activity contracts platform. ” – Robinhood
These developments are considered as part of the current discussions on the inspection of practices for market arrangements and activity contracts products.
Robinhood’s suspension of the product launch and CFTC’s review of Cryptoom contracts draws attention to the regulatory uncertainties that the sector may face in the future. The relevant companies promise to maintain cooperation with regulatory authorities.
It is stated that these developments may have effects on market players and followers. These regulatory steps are expected to shape strategies for future products.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
