Crypto.com's North American Derivatives Exchange and Novig's Ludlow Exchange filed federal lawsuits against Missouri officials on October 16, after 30-day deadlines in cease-and-desist letters from Attorney General Catherine Hanaway expired.
The letters gave operators a choice: take a Missouri sports betting licence or stop serving the state, and they also demanded a 10 percent tax on adjusted gross revenue. The two companies argue that federal law gives the CFTC exclusive authority over their designated exchanges, so state gambling law should not reach their sports event contracts.
Other recipients of the letters, including Kalshi, Polymarket, Underdog and Robinhood, had not sued in Missouri at the time of the report. A pending appeal in Kalshi's Iowa case at the Eighth Circuit could shape how the Missouri dispute ends.
Source: Gambling Industry News. Summary written by Playfield Review.