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The White House warned staffers not to use insider information to place bets on prediction markets as critics grow suspicious of lucrative trading activity around the Iran war. A White House official confirmed to The Post that the warning was sent to all staffers in an email from the White House Management Office on March […]
“It’s not a slam dunk at all.” A blunt assessment from former Commodity Futures Trading Commission Special Counsel Peter Sanchez Guarda cuts through the noise around an intensifying legal fight that could redraw the line between finance and gambling in the United States. Guarda, who now runs Peter Sanchez Guarda Consulting and Turnkey Family Office, points to […]
“It’s an interesting time in federalism.” When Professor Steven Light said that in a recent ReadWrite interview, it landed with weight. He was sitting next to fellow Professor Kathryn Rand, his longtime collaborator on tribal gaming law and co-author of Indian Gaming Law and Policy, and the two were talking through a change that feels […]
Gibraltar has taken a notable step toward reshaping its digital economy, issuing its first-ever license to a prediction markets operator amid pressure on its core online gambling sector. Authorities approved the license for Predict Street Ltd on March 26, formally adding the company to the territory’s register of betting intermediaries. The move was announced in […]
The Iowa Senate has signed off on a bill that would bring new rules and taxes to a fast-expanding corner of finance often called prediction markets. Lawmakers approved Senate File 2470 on Tuesday (March 31), making it the first time a state legislative chamber has moved to formally regulate this type of trading. The proposal […]
JPMorgan Chase CEO Jamie Dimon is calling for a broad recommitment to American ideals as his bank navigates geopolitical uncertainty, a teetering economy and the revolutionary impact of artificial intelligence. Dimon in his annual letter to shareholders, published Monday, noted the country’s 250th anniversary as “the perfect time to rededicate ourselves to the values that […]
Federal regulators have taken Arizona, Illinois, and Connecticut to court, opening a new front in the fight over so-called event contracts and who gets to regulate them. The Commodity Futures Trading Commission, joined by the United States, filed lawsuits in federal district courts seeking to stop those states from enforcing laws that would block these […]
A federal judge has approved a procedural agreement in the ongoing dispute between Coinbase and Michigan regulators. This clears the way for Detroit to become the first U.S. city to formally challenge sports-related prediction markets in court. In a March 26 order, Shalina D. Kumar of the United States District Court for the Eastern District […]
U.S. lawmakers on Tuesday (March 17) rolled out new legislation aimed at shutting down certain prediction markets that allow people to wager on geopolitical developments, government decisions, and other real-world events. Sen. Chris Murphy and Rep. Greg Casar introduced what they call the Banning Event Trading on Sensitive Operations and Federal Functions Act, or the […]
A new advisory from the US Commodity Futures Trading Commission (CFTC) could potentially reshape the debate around sports prediction markets. As platforms continue to offer contracts tied to real-world outcomes, from elections to the Super Bowl, regulators are signaling they may be willing to oversee the industry rather than shut it down altogether. For years, […]
