CFTC Takes Prediction Market Fight to Three States

The Commodity Futures Trading Commission filed lawsuits against Arizona, Connecticut, and Illinois regarding prediction markets The commission filed lawsuits reaffirming its jurisdiction to regulate event contracts under the Commodity Exchange Act Chairman Michael S. Selig said the commission will continue to safeguard its authority over the markets The Commodity Futures Trading Commission is no longer […]

Read More

Arizona Attorney General Files Criminal Charges Against Kalshi

Arizona Attorney General Kris Mayes today filed criminal charges against Kalshi The attorney general purports Kalshi operates an illegal gambling business in the state without a license The charges come just four days after Kalshi preemptively sued the state and Mayes Arizona Attorney General Kris Mayes today filed criminal charges against Kalshi in Maricopa County […]

Read More

Kalshi Sues Arizona in Preemptive Sports Event Contract Battle

Kalshi has filed a lawsuit in U.S. District Court against Arizona Attorney General Kristin K. Mayes and several Arizona Department of Gaming officials Kalshi filed a complaint for permanent injunction and declaratory relief to keep the state from taking action against its event contracts The Arizona Department of Gaming previously sent Kalshi a cease-and-desist notice in […]

Read More

Arizona Revokes Underdog’s Fantasy Sports License

The Arizona Department of Gaming notified Underdog on Dec. 5 of its intent to revoke the company’s fantasy sports contest license The decision stems from Underdog’s partnership with Crypto.com and its recent prediction market offerings Underdog will have the opportunity to request a hearing on the decision The Arizona Department of Gaming has notified Underdog […]

Read More

Gaming Boards Taking Steps to Avoid Sports Betting Manipulation

Several state gaming commissions are evaluating their sports betting markets for potential manipulation and may take action in the future Regulators are open to suggestions from professional sports leagues to make markets safer for consumers The New York State Gaming Commission has pledged to eliminate sports betting markets “susceptible to manipulation” Following several sports betting […]

Read More