On January 14, Bloomberg reported that U.S. federal regulators are deciding whether to investigate the legality of Crypto.com futures contract trading, which allows investors to bet on who will win major sporting events including the Super Bowl. According to people familiar with the matter, the CFTC is voting internally on whether to conduct a 90-day review of Crypto.com. The CFTC does not have the power to terminate trading immediately, and the review will last until after the Super Bowl game day on February 9, but the commission may ban such contracts after the review is completed.

The contracts are listed on Crypto.com’s Chicago-based derivatives trading platform. The company followed legal procedures and notified the CFTC on December 19 last year of its plan to start trading two days before Christmas, but the CFTC failed to review it in time due to the Christmas holiday.

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