By The Weekly Edge desk ·
OG, Crypto.com’s event-contract platform, sued Washington’s attorney general and gambling commissioners, iGaming Today reported. It seeks declaratory and injunctive relief, arguing the state cannot regulate its federally approved contracts.
The lawsuit contests Washington’s authority over OG’s event-contract products.
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The lawsuit challenges Washington’s proposed application of gambling enforcement to OG.
The partnership assigns OG.com infrastructure and clearing responsibilities for Robinhood’s retail event contracts through its CFTC-regulated exchange and clearinghouse.
Conflicting circuit decisions leave disputed whether federal law overrides state gambling rules for sports contracts.
The lawsuit seeks protection for OG against prospective Washington enforcement.
The applications could enable Blockchain.com to seek approval to bring prediction markets and regulated trading to US users.
Nine prediction market platforms face Connecticut cease-and-desist orders over sports event contracts offered to residents.