House bill would ban wildfire bets on federally regulated prediction markets Suswati Basu A House proposal introduced Monday (August 17) seeks to stop federally regulated prediction markets from letting traders place bets on wildfires or the destruction they cause. Rep. Michael Baumgartner filed H.R. 10109, called the “Wildfire Event Contract Prohibition Act.” After … Continue reading House bill would ban wildfire bets on federally regulated prediction markets
Washington and Crypto.com pause litigation, new federal bill targets wildfire markets, today in prediction market news LIVE Suswati Basu Today in prediction market news, we’re following fresh legal and regulatory developments, including Washington and Crypto.com agreeing to pause their litigation pending a Ninth Circuit ruling, Connecticut urging the Second Circuit to deny Kalshi … Continue reading Washington and Crypto.com pause litigation, new federal bill targets wildfire markets, today in prediction market news LIVE
Trump Media ‘retreats from Crypto.com deals’ as prediction market push cools Suswati Basu Trump Media & Technology Group is said to be pulling back from its planned expansion into prediction markets after walking away from two previously announced deals involving Crypto.com. The retreat points to a change in direction for the company’s wider … Continue reading Trump Media ‘retreats from Crypto.com deals’ as prediction market push cools
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
Novig sues New York claiming federal law shields sports prediction markets Suswati Basu A federally regulated prediction market operator is asking a federal judge to block New York from enforcing state gambling laws against its sports event contracts, arguing that Congress placed those markets under the exclusive authority of the Commodity Futures Trading … Continue reading Novig sues New York claiming federal law shields sports prediction markets
Novig launches nationwide sports prediction market after securing federal CFTC approval Suswati Basu Novig is taking its sports prediction market across the United States after the Commodity Futures Trading Commission approved the New York company as a Designated Contract Market. The designation puts Novig under a federal regulatory structure rather than the state-by-state … Continue reading Novig launches nationwide sports prediction market after securing federal CFTC approval
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
New York sues Kalshi alleging illegal prediction markets defying state gambling laws Suswati Basu New York is taking its fight against prediction markets to court, with Gov. Kathy Hochul and Attorney General Letitia James announcing Friday (July 31) that the state has sued Kalshi, alleging the federally regulated prediction market operator is running … Continue reading New York sues Kalshi alleging illegal prediction markets defying state gambling laws
NCLGS urges states keep control as prediction markets debate intensifies Suswati Basu The National Council of Legislators from Gaming States (NCLGS) has formally backed keeping sports wagering and broader gambling policy under state control as prediction markets continue spreading across the United States. Its Executive Committee unanimously approved a resolution during the group’s … Continue reading NCLGS urges states keep control as prediction markets debate intensifies
Federal judge lets Wisconsin continue sports prediction market enforcement fight forward Suswati Basu News Editor A federal judge has refused to block Wisconsin from enforcing its gambling laws against companies offering sports-related event contracts, handing the state an early victory against the US Commodity Futures Trading Commission (CFTC) in a closely watched legal battle … Continue reading Federal judge lets Wisconsin continue sports prediction market enforcement fight forward
