Operator v. state
Underdog Exchange DCM, Inc. v. Tong
U.S. District Court for the District of Connecticut, 3:26-cv-01499
Pending
Complaint filed Sept. 15, 2026; no ruling found.
The question
Whether the Commodity Exchange Act preempts Connecticut gambling or sports-wagering law as applied to event contracts listed on a CFTC-designated contract market.
Underdog Exchange DCM, Inc. and its affiliate UDM, LLC (Underdog Predict) sued Connecticut officials in federal court seeking declaratory and injunctive relief against application of state gambling law to their event contracts, attaching the cease-and-desist order Underdog Predict received. Connecticut announced cease-and-desist orders to several operators on Sept. 10, 2026 (per DeFi Rate).
Docket timeline
Complaint filed.
Source: dockets.justia.com