Crypto.com, Novig Sue Missouri Over Sports Event Contracts

The split in legal strategy is the real signal: Crypto.com and Novig are choosing to litigate Missouri's cease-and-desist orders, while Kalshi, Polymarket, Robinhood and Underdog are absorbing the same orders without a court challenge. That divergence matters because a single litigated case can define the regulatory perimeter for sports event contracts well beyond the parties involved, and the platforms staying on the sidelines are effectively letting others set the precedent. The open question is whether the non-litigating platforms are waiting for that precedent to form or quietly winding down their Missouri exposure.