Case: 25-7187, 03/10/2026, DktEntry: 75.1, Page 37 of 43
be unconstitutional—a construction that must be avoided. See United States v. Metcalf , 156 F.4th 871, 881–82 (9th Cir. 2025). Moreover, Crypto.com has a financial interest in self-certifying its own sports-betting contracts, regardless of such certifications’ verity. And this financial interest is directly adverse to the sovereign and economic interests of the State of Nevada, Amici Tribes, other states, and businesses offering sports betting across the country. The effects of these self-certifications go even further; in Crypto.com’s view, it can block tribes and states from regulating that which has long been within their sovereign authority to regulate simply by listing sports- betting contracts on its exchange. “This is legislative delegation in its most obnoxious form; for it is not even delegation to an official or an official body, presumptively disinterested, but to private persons whose interests may be and often are adverse to the interests of others in the same business.” Carter Coal , 298 U.S. at 311. CONCLUSION For the foregoing reasons, the Tribal Amici respectfully request that the Court affirm the lower court’s decision.
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