Missouri’s crackdown on sports prediction contracts is now facing two federal court challenges, with operators linked to Crypto.com and Novig pushing back against state efforts to treat the products as unlicensed gambling.

TL;DR: Two companies filed lawsuits on October 16 after receiving Missouri cease-and-desist letters. Their central argument is that federally regulated event contracts fall under CFTC oversight, but the courts have not resolved that question.

Missouri Attorney General Catherine Hanaway gave six platforms notice in September that they should stop offering the relevant contracts to state residents or comply with sports-wagering rules. The state argues that a contract paying out based on a sporting result is a bet in substance, whatever name a platform gives it.

North American Derivatives Exchange, behind Crypto.com’s prediction offering, filed in Missouri’s Western District. Novig operator Ludlow Exchange filed separately in the Eastern District. Both are asking the courts to restrict state enforcement while the dispute over jurisdiction plays out.

The conflict cuts to the business model of prediction exchanges. A federally supervised derivatives venue may argue that it should not need to obtain a separate state gambling licence for every jurisdiction in which a customer trades. States respond that sports wagering rules, including age restrictions and local taxes, cannot be bypassed simply through contract design.

Kalshi, Polymarket, Robinhood and Underdog also received Missouri letters, but had not filed comparable cases there as of the latest court review. Their choices should not be mistaken for acceptance of the state’s position.

For now, the litigation is an opening move. Neither filing establishes that Missouri’s restrictions are unlawful, and any interim court order would be narrower than a final judgment on how sports event markets can operate nationwide.

Written by the News Desk and edited by Samuel Rae.

TL;DR

• Crypto.com Exchange has integrated with Insilico Terminal, giving users access to advanced execution tools for spot and derivatives.
• Supported tools include TWAP, scale orders, depth-of-market views, automated sizing and programmable hotkeys.
• The integration does not change the underlying market risk of leveraged or derivatives trading.

Crypto.com is adding a more professional trading interface without forcing users to move their accounts to another venue.

The exchange announced an integration with Insilico Terminal on October 6, allowing users to connect their Crypto.com Exchange account directly to Insilico’s trading platform.

That gives traders access to execution tools usually associated with specialist terminals while keeping the actual account and liquidity on Crypto.com.

The Upgrade Is Mostly About Execution

Insilico supports tools including time-weighted average price orders, scale orders, depth-of-market views, automated sizing, programmable hotkeys and one-click strategies.

Those features matter most to active traders.

A simple market order may be enough for a small position, but larger traders often want to split execution, manage slippage or place orders according to a more structured plan.

The integration effectively separates the exchange from the interface.

Crypto.com provides the account, spot and derivatives markets and settlement infrastructure. Insilico provides a more specialized layer for interacting with them.

Better Tools Do Not Make Leverage Safer

Professional interfaces can improve how a trader executes a strategy.

They do not improve the strategy itself.

That distinction becomes especially important in derivatives, where a sophisticated order type can still lose money quickly if the underlying position is wrong or overleveraged.

The partnership is therefore best understood as infrastructure rather than a promise of better returns.

For Crypto.com, the attraction is clear.

Institutional and high-frequency traders often choose venues based not only on fees and liquidity but also on the quality of APIs and execution tools available around the exchange.

Offering direct access through Insilico gives the platform another way to compete for that flow.

The broader trend is also notable.

Crypto trading is beginning to look more modular, with traders using one venue for liquidity, another piece of software for execution and separate providers for custody or analytics.

Crypto.com and Insilico are leaning into that model rather than assuming every serious trader wants to live entirely inside one exchange interface.

This article was written by the News Desk and edited by Samuel Rae.