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(Bloomberg) -- The Commodity Futures Trading Commission put Super Bowl and other sports-related derivatives contracts traded on Crypto.com’s exchange under review to determine whether they meet legal standards.

The agency said in a statement Tuesday it asked the company to pause trading of the contracts, which were launched on Dec. 23, while it considers whether they violate prohibitions on gaming. The 90-day review could result in a decision to permanently ban trading of the contracts.

A Crypto.com spokesperson said the company rejected the CFTC’s request to suspend trading, and said it’s disappointing that the agency didn’t defer the matter to the incoming leadership of the new administration. The decision also contradicts recent federal court rulings, according to the firm.

“We remain committed to working with the CFTC and will continue to support our customers and the trading of our sports title event contracts in all 50 states without interruption while we review the CFTC’s notification,” the spokesperson said.

Regulators have been grappling with what kind of trading should be allowed in the burgeoning event contracts industry, whose offerings have been linked to relatively tame topics such as Grammy winners and weather, as well as election outcomes and the fate of an accused assassin.

The CFTC and another regulated predictions market, Kalshi Inc., are due in federal court on Friday to argue whether trading on political events constitutes gaming or gambling.

(Updates with company comments in third and fourth paragraphs.)