WORLDTECHNovig loses court shield, and New York gambling laws strike back
What happened
Novig filed a notice of appeal to the US Court of Appeals for the Second Circuit that same day, challenging the denial of its preliminary-injunction request. A judge said state rules could apply even if its sports contracts were swaps; Novig appealed the preliminary denial.
Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Novig appealed after a federal judge denied protection from New York gambling laws for sports contracts on its CFTC-designated exchange.
12, 2026 at 1:40 am GMT A federal judge denied Novig preliminary protection from New York gambling laws in a. 02 The court said state gambling rules could apply even if Novig's sports contracts qualified as federal swaps.
03 The order leaves its federal exchange designation intact and addresses interim relief. Make CryptoSlate preferred on Share Share Sports event-contract exchange Novig was denied preliminary protection from New York's gambling laws.
10, with a federal judge concluding that the sports contracts at issue remained subject to state rules despite its federal exchange designation. The opinion goes beyond whether those contracts qualify as swaps under federal commodities law.
The judge reasoned that even assuming they do, New York could still apply its gambling rules to the betting activity. The dispute separates permission to operate a federally designated exchange from protection against state sports-betting requirements.