Crypto.com is suing Missouri over sports event contracts: What to know

Permission isn't just a fight in tokenized stocks, as I mentioned before, it's also a fight in the prediction markets. This time in the great state of Missouri.

crypto.com, Novig Sue Missouri over sports event contracts, Kashi Polymarket, Robin Hood, hold off. more like misery, right? Yeah.

So what basically happened here is the same battle that we've been having here between the federal government, the state government and then sprinkle in all of the actual platforms on top of that.

So basically, the state says that they are able to control what is offered and what is done in their state and they call it sports gambling. Federal government, the CFTC said it's not. My main prediction for these markets is more legal fees for the lawyers.

That's good. Right? We know that the lawyers are going to make a hell of a lot of money here.

So what happened basically is that crypto.com and Novig are suing Missouri because Missouri wants to call these sports betting contracts. So Novig and crypto.com are on the side of the CFTC and the federal government.

That's why you saw Kashi Polymarket Robin Hood hold off. They're waiting to see what happened. They have not yet decided to sue. But I find it really interesting that we have states suing the government, federal government, the federal government suing the states. And we have these companies also suing the states. That is a whole lot of suing.

So right now, they're basically trying to make sure that they can continue to operate. I've told you before how confusing this is for some of these who have one mandate from the federal government and one from a state, the federal government telling them they have to operate and the state telling them they have to shut down. Not a very easy place to operate right now. This is really just a story of an increase in the rhetoric.

Uh and an increase in the legal challenges to prediction markets.