An Illinois court has sided with the United States Commodity Futures Trading Commission (CFTC), affirming that Olympus (CRYPTO:OHM) and KlimaDAO (CRPTO:KLIMA) are commodities.

This decision marks a significant legal milestone, reinforcing the CFTC's jurisdiction over these altcoins.

The case centered around Oregon resident Sam Ikurti and his company, Jafia LLC, accused by the CFTC of orchestrating a Ponzi-like scheme.

The court imposed a substantial $120 million fine on Ikurti and Jafia LLC for defrauding investors and misappropriating funds to purchase OHM and KLIMA tokens.

Judge Mary Rowland's ruling not only penalised the defendants but also solidified OHM and KLIMA as commodities under CFTC oversight.

Despite a downturn in the broader market, OHM saw a 0.71% price increase, while KLIMA rose by 0.47% following the court's decision.