Washington, D.C. — The Commodity Futures Trading Commission today announced it has initiated a review, pursuant to CFTC Regulation 40.11(c), of RSBIX NFL futures contracts self-certified by Eris Exchange, LLC (ErisX) on December 15, 2020. ErisX self-certified three RSBIX NFL futures contracts: one based on the moneyline; the second on the point spread; and the third on total points for individual NFL games. Beginning today, the CFTC has 90 days—or longer as agreed to or requested by ErisX—to review and make a determination with respect to the submissions.
The review follows a Commission determination that the RSBIX NFL futures contracts “may involve, relate to, or reference” an activity enumerated in Regulation 40.11(a)(1), including but not limited to “gaming, or an activity that is unlawful under any State or Federal law.” Accordingly, and pursuant to Regulation 40.11(c)(1), the Commission has requested that ErisX refrain from listing and trading its proposed RSBIX NFL futures contracts during the pendency of the review period.
The Commission will also open a 30-day public comment period on specific questions related to the RSBIX NFL futures contracts to help inform its review. The public comment period opens on December 28, 2020 and closes on January 28, 2021. The questions are available here and instructions for submitting comments will be available upon the opening of the comment period.
This news item was originally published by the Commodity Futures Trading Commission (CFTC US). For more information, see the Source Link.