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Gambling Regulation

All articles tagged with #gambling regulation

Valve seeks dismissal of NY gambling suit over CS2 loot boxes
law9 days 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.

Lawmakers Push to Regulate War-Based Prediction Markets Amid Iran Crisis
politics2 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.

Young Bettors Drive a Boom in Prediction Markets
business4 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.