Category Archives: Sports Betting Regulations

CFTC warning on ‘American odds’ puts sports prediction market pricing in the spotlight

CFTC warning on ‘American odds’ puts sports prediction market pricing in the spotlight Suswati Basu The Commodity Futures Trading Commission (CFTC) has warned companies offering event-contract derivatives that presenting prices in sportsbook-style “American odds” could mislead consumers, a move that could have significant implications for sports-focused prediction market products offered or distributed by … Continue reading CFTC warning on ‘American odds’ puts sports prediction market pricing in the spotlight →

Forty-four state attorneys general challenge CFTC sports prediction markets rule proposal

Sports Betting Regulations

Forty-four state attorneys general challenge CFTC sports prediction markets rule proposal Suswati Basu A coalition of 44 state attorneys general is pressing the Commodity Futures Trading Commission (CFTC) to abandon and rewrite its proposed prediction markets rule, saying the agency is trying to regulate sports betting without legal authority. The group argues the … Continue reading Forty-four state attorneys general challenge CFTC sports prediction markets rule proposal →

Congress faces heated debate over sports prediction markets federal gambling regulatory authority

Sports Betting Regulations

Congress faces heated debate over sports prediction markets federal gambling regulatory authority Suswati Basu News Editor Congress is set to hear sharply conflicting testimony Tuesday (July 21) over who should regulate sports prediction markets and whether Congress should step in to redefine them as gambling instead of federally regulated financial products. The committee is … Continue reading Congress faces heated debate over sports prediction markets federal gambling regulatory authority →

ProphetX secures CFTC approval to launch regulated sports prediction exchange

Sports Betting Regulations

ProphetX secures CFTC approval to launch regulated sports prediction exchange Suswati Basu ProphetX has received approval from the Commodity Futures Trading Commission to operate as a federally regulated sports-focused exchange in the United States. The New York-based company said the regulator approved its applications to register as both a Designated Contract Market (DCM) … Continue reading ProphetX secures CFTC approval to launch regulated sports prediction exchange →

Michigan approves bet365 launch as Odawa partner, replacing PokerStars

Sports Betting Regulations

Michigan approves bet365 launch as Odawa partner, replacing PokerStars Suswati Basu Michigan has signed off on a new online betting operator, giving bet365 permission to enter the state through a partnership with the Little Traverse Bay Bands of Odawa Indians. The approval was announced Friday (April 17) by the Michigan Gaming Control Board. … Continue reading Michigan approves bet365 launch as Odawa partner, replacing PokerStars →

Minnesota advances controversial felony ban on prediction markets as scrutiny grows

Sports Betting Regulations

Minnesota advances controversial felony ban on prediction markets as scrutiny grows Suswati Basu Minnesota lawmakers are moving ahead with a proposal that would outlaw most prediction markets, pushing the issue further into the spotlight as similar debates unfold in other states. A key Senate panel this week signed off on Senate File 4511, … Continue reading Minnesota advances controversial felony ban on prediction markets as scrutiny grows →

Kalshi seeks preliminary injunction as tribes oppose Arizona betting crackdown

Sports Betting Regulations

Kalshi seeks preliminary injunction as tribes oppose Arizona betting crackdown Suswati Basu Kalshi is asking a federal judge in Arizona to step in and halt state enforcement actions targeting its event-based trading platform. The move ramps up a growing legal fight over whether Kalshi’s contracts should be treated as legitimate financial products or … Continue reading Kalshi seeks preliminary injunction as tribes oppose Arizona betting crackdown →

Bipartisan senators push bill to ban sports prediction markets

Sports Betting Regulations

Bipartisan senators push bill to ban sports prediction markets Suswati Basu A group of U.S. senators from both parties is targeting sports-related prediction markets, introducing a bipartisan bill that would outlaw the contracts altogether. The move ramps up an ongoing clash over whether these platforms function as legitimate financial tools or simply unregulated … Continue reading Bipartisan senators push bill to ban sports prediction markets →

US lawmakers propose ban on death betting prediction markets

Sports Betting Regulations

US lawmakers propose ban on death betting prediction markets Suswati Basu Members of Congress are moving to block a controversial corner of the prediction market industry by introducing legislation that would outlaw betting contracts tied to violence or death. The proposal, called the “Discouraging Exploitative Assassination, Tragedy, and Harm Betting in Event Trading … Continue reading US lawmakers propose ban on death betting prediction markets →

MLS issues lifetime bans to two former players over betting scandal

Sports Betting Regulations

MLS issues lifetime bans to two former players over betting scandal Suswati Basu Major League Soccer has permanently banned two former players after investigators concluded they gambled on league matches and passed along insider details to other bettors. The league announced Monday (March 9) that Derrick Jones and Yaw Yeboah received lifetime suspensions … Continue reading MLS issues lifetime bans to two former players over betting scandal →