A significant judicial victory for Kalshi prediction markets is overturned by a federal judge in Nevada.
A Nevada ruling exacerbates the nation’s courts’ increasing disagreement over whether prediction markets are bets or financial products. A crucial court victory for prediction markets operator Kalshi was reversed by a federal judge in Nevada, who dissolved a preliminary injunction that had prevented state regulators from classifying its contracts for sporting events as unlawful gambling. […]
Chris Christie: Maintain Legal Sports Betting
Major League Baseball and its sportsbook partners confirmed what many of us have long known when they announced prohibitions on specific kinds of bets following accusations that two pitchers had rigged their throws to favour bettors. When properly implemented, regulated betting enhances the integrity of sports. Furthermore, the federal prosecutions involving current and former NBA […]
Johnson Advances the Chicago Sports Betting Tax
Among a number of potential revenue legislations that will further enrage licensed Illinois sportsbooks, Chicago Mayor Brandon Johnson proposed a 10.25% tax on the city’s sports betting earnings. This tax would be higher than the state’s present revenue and per-wager tax sliding scale, which ranges from 20% to 40%. This year and last, Illinois state […]
M.L.B. Bans Individual Pitch Bets Following Gambling Charges
Major League Baseball said that its betting industry partners will restrict this particular type of wager, which the league claims is more susceptible to manipulation, the day after two Cleveland Guardians pitchers were accused of arranging rigged bets on individual pitches. A new $200 cap on wagers on individual pitches is one of the adjustments […]
ProphetX is switching from sweepstakes to prediction markets.
ProphetX believes it has discovered a solution to the rapidly worsening financial issue, and it is wagering that the Commodity Futures Trading Commission will concur. Instead of navigating state-by-state gaming restrictions, the sports betting website has filed to become a federally regulated prediction market exchange, allowing it to operate nationwide under the CFTC’s jurisdiction. In […]
