Adam Roarty is a journalist covering sports betting, regulation, and industry innovation for CasinoBeats. His coverage includes tax increases in the UK, covering breaking stories in the ever-evolving landscape of US betting such as the...
Read Full BioRSBIX, a company owned by Jeff Ifrah, a lawyer with connections to President Donald Trump, has applied for Designated Contract Market (DCM) status from the Commodity Futures Trading Commission (CFTC).
The company notes that the application has been submitted on its website. The website also states that, “In partnership with Matchbook, one of the world’s leading sports exchange operators, and through close collaboration with stakeholders across multiple sectors, RSBIX’s vision is to become the most trusted sports event trading platform in the United States.”
Matchbook is a UK-licensed betting exchange, but it is not available in any US states.
RSBIX Markets Previously Blocked by CFTC
Previously, RSBIX attempted to launch NFL prediction markets through ErisX, a U.S. derivatives exchange and clearinghouse, later acquired by Cboe. ErisX attempted to self-certify “RSBIX NFL Futures Contracts” in 2020, but faced opposition from the CFTC.
Eventually, ErisX withdrew its application in 2021, meaning the markets were never activated. At the time, Brian Quintenz, Trump’s nominee to lead the CFTC, was a commissioner at the organization. He was in favor of the regulator overseeing sports event contracts.
Quintenz continues to wait for his nomination to be confirmed. Last week, he released private messages with Tyler Winklevoss, whom he claims has blocked his appointment.
Winklevoss felt wronged by his company, Gemini, being forced to pay a $5 million penalty by the CFTC. The penalty related to Gemini failing to disclose accurate information about its pricing of cryptocurrencies. Cboe, the platform that acquired ErisX in 2022, had tied its Bitcoin futures contracts to Gemini’s exchange.
CFTC Clears Way for Sports Prediction Markets
Whether Quintenz is appointed or not, the CFTC has changed its stance towards sports prediction markets.
The organization has allowed licensed platforms such as Kalshi and Crypto.com to offer an increasing number of sports-related event contracts. Just this week, Kalshi self-certified a range of football prop markets. The CFTC, under a new administration, has yet to object to any of Kalshi’s self-certifications.
Opponents of Quintenz argue that his position as a Kalshi board member is influencing the CFTC’s lack of oversight.
RSBIX will therefore be hopeful that any moves to launch its sports prediction markets will not be met with resistance. The company also has connections with the President, who could smooth the regulatory process.
Ifrah Aims to Influence Policy
Jeff Ifrah’s legal company, Ifrah Law, has represented Trump in several high-profile cases, including the case that led to an FBI raid on Mar-a-Lago.
Earlier this year, he also launched NexusOne Consulting, a new government relations firm that aims to help crypto and AI companies shape U.S. policy. Upon the launch, Ifrah stated, “There’s a once-in-a-generation opportunity to shape the future of tech policy. We’re here to make sure innovators don’t just react to policy—they influence it.”
Trump has further ties to prediction markets through his son, Donald Trump Jr. He is now serving as a strategic advisor to both Kalshi and Polymarket. The latter is also set to relaunch its platform in the U.S. following CFTC approval.
While ongoing court battles between states and prediction markets are increasing, more and more companies look set to become involved. The lack of oversight from the CFTC has allowed platforms to effectively offer users the option to wager on sports, even in states where sports betting is not legal.
