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01.tech
The platform is being prepared as SEGG Media expands Sports.com beyond media assets and into transaction-based fan engagement.
Industry bodies and legal experts support Government move, citing risks of illegal activity, unfair competition and lack of consumer safeguards
The federal regulator has escalated its legal fight with state authorities after New York moved against Coinbase and Gemini over event contracts, deepening uncertainty around how prediction markets will be regulated in the US.
A substantial weather-related bet on Polymarket was won amid allegations that a temperature sensor at Paris’s Charles de Gaulle Airport may have been tampered with, possibly using a hairdryer.
The executive explained that prediction markets are a form of financial exploitation.
The lawsuits target Kalshi, Robinhood, Coinbase, Polymarket, Crypto.com and affiliates over alleged unlawful gambling activity in the state.
Within PHAI’s lawsuit, the Institute alleges Kalshi and Robinhood’s prediction markets are a “pretext designed to disguise" unlicensed sports betting as federally regulated "financial trading."
Influencer Raphael Sousa Oliveira accused of acting as a media operator in scheme involving illegal bets, raffles and money laundering.
Attorney General Letitia James also filed for a temporary restraining order and preliminary injunction against Gemini after the operator unveiled intentions to offer event contract trading.
Both Kalshi and Polymarket have seen insider trading scandals emanating from their platforms.
