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ErisX Exchange Asks CFTC to Approve Sports Bet Futures as ‘Risk Hedging’ Tools
Summary: Cryptocurrency derivatives platform ErisX is making an unusual attempt to push through futures contracts tied to the outcome of National Football League (NFL) games. According to a report from Bloomberg on Tuesday,Cryptocurrency derivatives platform ErisX formally asked the Commodity Futures Trading Commission (CFTC) in mid-December to give the green light to its futures contracts tied ...
Cryptocurrency derivatives platform ErisX is making an unusual attempt to push through futures contracts tied to the outcome of National Football League (NFL) games.
According to a report from Bloomberg on Tuesday,Cryptocurrency derivatives platform ErisX formally asked the Commodity Futures Trading Commission (CFTC) in mid-December to give the green light to its futures contracts tied to the outcome of National Football League (NFL) games. Their objective is to hedge against “economic risk” for sportsbooks, said ErisX’s CEO Thomas Chippas in Bloomberg’s report. “This is not a substitute for gaming.”
Pending a 90-day review for public comment, the CFTC’s response on the matter is expected around mid-March. If the exchange is given the OK by the regulator, baseball and basketball would likely be targeted next.
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Link: ErisX Exchange Asks CFTC to Approve Sports Bet Futures as ‘Risk Hedging’ Tools [Copy]
