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House Bill 904 would also have introduced several changes to sports betting regulations in Kentucky, including minimum age requirements and licensing peer-to-peer DFS with a 12% tax.
The new product will initially rollout across the US and provide users with event contracts from Crypto.com and Derivatives North America (CDNA), covering sports, finance and entertainment.
The Home Affairs and Youth Bureau explained that the threat of illegal, offshore gambling through prediction markets was too large to continue.
ADI Predictstreet, which runs on ADI Chain’s blockchain infrastructure, allows users to trade contracts on match outcomes, tournament statistics and breakout players for the global competition.
The prediction market operator has seen a temporary reprieve granted by a state judge in its case against local gaming regulators.
The US financial services operator has excluded a handful of prediction markets following manipulation worries.
The event will be held at Northeastern University in Boston, Massachusetts.
The prediction markets operator had originally filed a lawsuit in Arizona on March 13, citing a ‘substantial risk’ of enforcement action while naming Attorney General Kristin Mayes.
The partnership aims to advance intelligence for prediction and betting markets.
The collaboration was said to represent the first time a prediction markets operator will activate branding and marketing capabilities at a live professional golf event, running from April 9-12.
