Judge Paul Maloney of the U.S. District Court for the Western District of Michigan has ruled that the sports betting contracts offered by Polymarket do not fall under the category of swaps regulated by the U.S. Commodity Futures Trading Commission (CFTC). The court also denied Polymarket's request for a preliminary injunction to block enforcement actions by Michigan regulators. The court stated that Polymarket is unlikely to prevail on the merits of the case and noted that interpreting federal derivatives regulations to include such sports betting contracts would be overly broad. (Decrypt) https://www.(wublock123.com)/news/polymarket-sports-betting-contracts-not-swaps-michigan-federal-court-62989