Crypto.com Processa a Exchange de Previsões do Estado de Washington por Proteção Federal

North American Derivatives Exchange Inc., operating as OG Prediction Markets e Crypto.com | Derivatives North America, filed a federal lawsuit on Wednesday in the Western District Court of Washington, seeking to stop state officials from applying gambling laws to its Event Contracts. The exchange, regulated by the CFTC, named Attorney General Nick Brown and members of the Washington State Gambling Commission as defendants. The case does not follow any enforcement action against OG, but the exchange argues that Washington’s public position and its 20 July injunction against the competitor Kalshi create a concrete and imminent threat of enforcement. OG cites the CFTC’s 14 July order protecting completed event contracts in Michigan as precedent. The case expands the federal-state jurisdiction conflict over prediction markets into the growing derivatives business of Crypto.com, which launched its OG platform on 3 February.

OG Seeks Federal Protection Without Prior Enforcement Action

OG asks the federal court to declare Washington’s gambling laws unconstitutional and preempted when applied to its exchange. The company seeks a permanent injunction preventing Brown and the gaming commissioners from enforcing betting laws against OG. The complaint does not show that the company has obtained temporary or preliminary protection. The exchange argues that Congress granted the CFTC exclusive jurisdiction over transactions in designated contract markets, creating a uniform national system of derivatives that states cannot override. OG says withdrawing from Washington would entail irrecoverable revenue losses, weaken its position against competing exchanges, and create a patchwork of state-by-state regulation incompatible with its federal obligations. Since December 2025, Washington has maintained that offering or participating in event contract markets is not authorized within the state.

CFTC Michigan Intervention Forms Legal Foundation

OG’s complaint is heavily based on the CFTC’s 14 July intervention in Michigan. The agency prevented Kalshi from cancelling sports contracts that had been previously executed after a state court declared them void and ordered refunds, finding that the exchange must carry on the negotiations normally. The CFTC said that forced unwinding could distort prices and undermine confidence that completed derivatives transactions will remain enforceable. OG also raises a commercial defense for sports contracts, arguing that media outlets, retailers of merchandise, hospitality businesses, restaurants and fantasy operators can use them to hedge revenue associated with sports results. The complaint presents hypothetical use cases and does not identify companies currently using OG contracts for those purposes.

Washington Enforcement Record Shows State Success Rate

OG is the second operator to sue Washington based on an imminent threat, after Robinhood. Previously, the exchange had sued Nevada regulators in September 2025, after receiving a cease-and-desist order, and a federal judge denied its preliminary injunction the following month, prompting Crypto.com to suspend sports contracts in Nevada and appeal to the Ninth Circuit. In June, OG filed an almost identical complaint against New York State Attorney General Letitia James and against the New York State Gaming Commission. Washington’s state court reached the opposite conclusion in the Kalshi case, finding that the Commodity Exchange Act does not prevent states from defining and enforcing illegal gambling. Federal courts remain split: the Third Circuit protected Kalshi in New Jersey, while courts in several other states allowed local restrictions to move forward. Gaming attorney Daniel Wallach counts that states win 19 of 23 decisions on preliminary injunctions and temporary restraining orders in prediction market cases.

FAQ

Why did OG Prediction Markets file a lawsuit against Washington State?

OG filed the federal lawsuit to prevent Washington officials from applying state gambling laws to its Event Contracts. The exchange says Washington’s 20 July injunction against Kalshi and the state’s public position since December 2025 create a concrete and imminent threat of enforcement, even if OG has not received a cease-and-desist order and has not faced an enforcement case.

What is OG's legal argument in the Washington lawsuit?

OG argues that Congress granted the CFTC exclusive jurisdiction over transactions in designated contract markets, creating a uniform national derivatives system that states cannot replace. The exchange cites the CFTC’s 14 July intervention in Michigan, in which the agency prevented Kalshi from cancelling completed sports contracts after a state court declared them void, as precedent for federal protection of derivatives operations.

How many prediction market cases have states won against exchanges?

Gaming attorney Daniel Wallach counts that states win 19 of 23 decisions on preliminary injunctions and temporary restraining orders in prediction market cases. Federal courts remain split, with the Third Circuit protecting Kalshi in New Jersey, while courts in several other states have allowed local restrictions to move forward.