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Gambling Regulation

All articles tagged with #gambling regulation

NFL urges Supreme Court to classify prediction markets as state-regulated gambling
sports-and-law4 days ago

NFL urges Supreme Court to classify prediction markets as state-regulated gambling

The NFL has filed an amicus brief with the U.S. Supreme Court arguing that sports prediction markets are gambling and must be regulated by states, not the federal Commodity Futures Trading Commission (CFTC). The league contends that current federal oversight lacks necessary safeguards, such as a 21-year age limit and bans on manipulation-prone bets. This legal push follows a circuit split where some appeals courts ruled states can regulate these markets, while others sided with federal jurisdiction. The NFL seeks a ruling before the end of the football season to protect game integrity, despite opposition from platforms like Kalshi that argue federal rulemaking is sufficient.

via NBC Sports|
#gambling-regulation#kalshi#nfl
Illinois Judge Blocks Prediction Market Rules as Ohio Orders 10 Platforms to Halt Sports Betting
politics6 days ago

Illinois Judge Blocks Prediction Market Rules as Ohio Orders 10 Platforms to Halt Sports Betting

A federal judge in Illinois blocked new state rules on prediction markets, ruling that Kalshi’s sports contracts are likely federally regulated swaps. Meanwhile, Ohio’s casino regulator ordered 10 platforms, including Polymarket and Robinhood, to stop offering sports contracts by October 16, citing a recent 6th Circuit ruling. This creates a fragmented legal landscape where the same app faces different regulations in different states.

via Chicago Sun-Times|
#gambling-regulation#illinois#kalshi
6th Circuit Rules Kalshi Sports Contracts Are Gambling, Not Federal Swaps
legal16 days ago

6th Circuit Rules Kalshi Sports Contracts Are Gambling, Not Federal Swaps

A unanimous 6th U.S. Circuit Court of Appeals panel ruled on Friday that Ohio and Tennessee may apply state gambling laws to Kalshi’s sports event contracts. The court rejected Kalshi’s argument that these contracts are federally regulated 'swaps' under the Commodity Futures Trading Commission (CFTC), stating that such instruments are designed for risk hedging, not sports betting. This decision vacates a preliminary injunction in Tennessee and upholds a lower court ruling in Ohio, deepening a split among federal circuits and increasing the likelihood of Supreme Court review.

via Mashable|
#6th-circuit#cftc#gambling-regulation
6th Circuit Rules States Can Regulate Kalshi Sports Contracts, Deepening Legal Split
legal-and-business16 days ago

6th Circuit Rules States Can Regulate Kalshi Sports Contracts, Deepening Legal Split

The 6th U.S. Circuit Court of Appeals ruled on September 25 that Ohio and Tennessee may apply state gambling laws to Kalshi’s sports-related event contracts. The unanimous decision rejects Kalshi’s argument that such contracts are federally regulated 'swaps' under the Commodity Futures Trading Commission (CFTC). This ruling marks the second major appellate loss for prediction market platforms, following a similar 9th Circuit decision regarding Nevada. The conflicting rulings across circuits have intensified calls for Supreme Court intervention to resolve whether prediction markets are gambling or financial instruments.

via CNBC|
#cftc#gambling-regulation#kalshi
New York Files Suit to Block Polymarket, Citing Unlicensed Gambling
legal-and-regulatory18 days ago

New York Files Suit to Block Polymarket, Citing Unlicensed Gambling

New York State has filed a lawsuit against prediction market platform Polymarket, alleging it operates as an unlicensed gambling entity. The state seeks to block the company from operating in New York, impose fines, and force restitution to users. Polymarket, which employs over 350 people in the state, has vowed to fight the legal action, arguing that its platform functions like a stock market rather than a gambling operation. This move follows similar legal challenges against competitors like Kalshi and highlights the ongoing conflict between state gambling regulators and federal authorities over the classification of event contracts.

via BNN Bloomberg|
#cftc#gambling-regulation#legal-and-regulatory
Hacker’s Leak Exposes Secret Owners of Curaçao’s Gambling Empire
investigative-journalism21 days ago

Hacker’s Leak Exposes Secret Owners of Curaçao’s Gambling Empire

Berlin-based researcher Lilith Wittmann hacked the Curaçao Gaming Authority (CGA) in December 2025, exposing confidential documents that reveal the true owners of hundreds of online gambling companies. The leak, published by Follow the Money and international partners, shows that the CGA routinely issued licenses without verifying beneficial ownership or requiring complete information. The documents identify individuals behind major platforms like Stake, 1xBet, and Blaze, many of whom were previously anonymous or undisclosed. While the CGA acknowledged the breach, it cited a transition period under new 2024 laws as a reason for lax oversight. Wittmann has indicated plans to release the full list of ultimate beneficial owners, potentially exposing the identities of operators behind crypto casinos and other high-profile gambling sites.

via Follow the Money - Platform for investigative journalism|
#curacao-gaming-authority#data-breach#gambling-regulation
DraftKings and FanDuel Accused of Using AI to Target Vulnerable Gamblers
technology-and-business22 days ago

DraftKings and FanDuel Accused of Using AI to Target Vulnerable Gamblers

Investigations by The New York Times and CBS News reveal that DraftKings and FanDuel allegedly use data analytics to target customers likely to lose money while suppressing tools designed to identify problem gamblers. Former employees claim DraftKings built an 'elasticity' model to maximize revenue from vulnerable users and canceled projects aimed at predicting gambling crises. FanDuel is accused of re-engaging users who had paused betting. Industry leaders defend these practices as standard marketing, but critics argue the models prioritize profit over customer welfare, contributing to significant financial losses for individuals.

via Defector|
#ai-ethics#consumer-protection#draftkings
Valve seeks dismissal of NY gambling suit over CS2 loot boxes
law4 months ago

Valve seeks dismissal of NY gambling suit over CS2 loot boxes

Valve moved to dismiss the New York attorney general’s lawsuit alleging it profited from unregulated gambling via Counter-Strike 2 loot boxes, arguing the virtual items are more like collectible baseball cards with subjective value and that opening cases is not illegal gambling. The company warns banning mystery packs could disrupt billions of daily transactions across everyday products, while NY seeks damages and an injunction; the case, overseen by NY Supreme Court Justice Nancy Bannon, highlights a broader regulatory clash as Valve defends its decade-long practice of selling mystery boxes.

via Courthouse News|
#counter-strike-2#gambling-regulation#law
Lawmakers Push to Regulate War-Based Prediction Markets Amid Iran Crisis
politics7 months ago

Lawmakers Push to Regulate War-Based Prediction Markets Amid Iran Crisis

Lawmakers are scrutinizing war-related prediction markets after bets on Iran escalate, with Sen. Chris Murphy promising legislation to ban or curb such markets; a Mick Mulvaney‑led group seeks tighter guardrails on prediction markets, while Kalshi says it bans death-related markets and refunded affected users, highlighting ongoing concerns about ethics and possible insider trading in federally regulated markets.

via CNBC|
#gambling-regulation#iran#kalshi
Young Bettors Drive a Boom in Prediction Markets
business9 months ago

Young Bettors Drive a Boom in Prediction Markets

Analysts say 18- to 20-year-olds may be fueling a surge in prediction-market trading, with HoldCrunch data showing Kalshi taking more college football trades than NFL or NBA; Kalshi and Polymarket trade 18+ in many cases, filling gaps where online sports betting is restricted and drawing regulatory scrutiny after NCAA President Charlie Baker asked the CFTC to curb college-game options. California and New York show notable non-traditional betting activity, suggesting these platforms attract skilled bettors and broaden wagering beyond regulated sportsbooks.

via CNBC|
#18-20-year-olds#business#college-football