CFTC Announces Review of RSBIX NFL Futures Contracts Proposed by Eris Exchange, LLC

The CFTC recently announced a review of three RSBIX NFL futures contracts self-certified by Eris Exchange, LLC (ErisX): one based on the moneyline; the second on the point spread; and the third on total points for individual NFL games. ErisX’s filing states the futures contracts are designed to give Licensed Sportsbooks another way to hedge their exposure. The filing stresses that the proposed contracts are not “gaming” prohibited by CFTC Rule 40.1 because they are not based on the customer bets on the underlying event. The CFTC now has 90 days from December 23, 2020 to review and make a determination with respect to the submissions. The CFTC has also made available a list of questions it would like addressed in comments related to the proposal, which may provide some clues to where the Commission’s analysis will be focused.