Fantasy Sports App Sleeper Sues CFTC as Prediction Markets Boom

Fantasy Sports App Sleeper Sues CFTC as Prediction Markets Boom

Fantasy sports app Sleeper Markets accused the US Commodity Futures Trading Commission of thwarting its efforts to become a futures commission merchant, a key step needed to enter the event predictions market.

Sleeper files civil suit against CFTC over “unlawful” delays

US DFS operator Sleeper has filed a civil suit against the Commodity Futures Trading Commission (CFTC) over allegations the body blocked the firm’s path to becoming a licensed prediction market. The suit was filed in the US District Court of DC, with Washington-based law firm Milbank representing the operator. Sleeper alleged the CFTC had “unlawfully blocked” its application for a futures commissions merchant (FCM) license, and in turn “unfairly…