When it comes to event prediction markets, DraftKings and Fan Duel seem to be taking on the old adage, "If you can't beat 'em, join 'em." That's why earlier this week DraftKings filed an application for membership in the National Futures Association (NFA) and it appears that FanDuel will likely follow suit in short order.…
Several US lawmakers are taking another shot at turning the Supporting Affordability & Fairness with Every Bet Act (SAFE Bet Act) into law on the eve of March Madness. Earlier this week,Representative Paul Tonko (D-New York) and Senator Richard Blumenthal (D-Connecticut) announced that they will be reintroducing the SAFE Bet Act to Congress with a…
Major League Baseball (MLB) is joining the discussion surrounding events contracts and prediction markets with a letter addressed to acting Commodities Futures Trading Commission Chair Caroline Pham. In the letter, penned by Bryan Seeley, Executive Vice President, Legal & Operations, the MLB stresses what it sees as a dire need for events contracts operators to…
Lawmakers in the New Jersey State Assembly have approved a bill that would ban colleges and universities from entering into partnerships with sports betting operators. Assembly Bill 4113 now heads to the Senate Higher Education Committee where, if approved, it will be put up to the NJ Senate for a final vote before becoming the…
If you were hoping to augment your monthly egg fund with profits from prediction markets like Kalshi and you live in Nevada, we have some bad news for you. Earlier this week the Nevada Gaming Control Board (NGCB) announced that as of March 14, event prediction markets would no longer be available to Nevada residents.…
Several Fresno State basketball players are under investigation by the NCAA for allegedly betting on their play on daily fantasy sports (DFS) sites. According to ESPN.com, junior forward Mykell Robinson and a group of his associates were regularly betting on their play, including the under line. Details of the investigation are still scarce, though whatever…
Anyone who is wondering whether or not prediction markets are an actual threat to traditional gaming interests should have a talk with Nevada Congresswoman Dina Titus (D). Last week Titus sent a letter to Commodity Futures Trading Commission (CFTC) Acting Chairwoman Caroline D. Pham voicing her concerns about prediction markets and their impact on regulated…
YouTube is cracking down on unregulated gambling sites with a policy update that was announced earlier this week. The massive, and ubiquitous, content site will definitely be a less friendly place for grey and black market sites when the update goes into effect and could have a big impact on affiliates and operators alike. Under…
The sports events contract market is exploding in the United States and the American Gaming Association (AGA) really wants to be part of the conversation. This week, the gambling industry’s biggest lobbying group sent a letter to the Commodities Futures Trading Commission (CFTC) requesting a seat at the table when the Commission discusses event trading…
GeoComply is making some moves at its executive level this week with the hiring of former FanDuel President and Chief Operating Officer Kip Levin as its new CEO. Levin is replacing GeoComply co-founder Anna Sainsbury, who is remaining with the company as executive chairman. It's a big move that illustrates the incredible growth experienced recently…
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