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The AGA hosted its annual State of the Industry webinar, with comments from President & CEO Bill Miller and former New Jersey Governor Chris Christie, as prediction markets were chastised once more.
The prediction markets operator stated its system flagged both trades and subsequently froze the players’ accounts, confirming neither party withdrew profits from the alleged violations.
Although prediction market operators have implemented geo-blocking measures against their platforms, users can still access them via VPN.
Governor Spencer Cox publicly criticized CFTC Chairman Michael Selig over the legality of sports-related prediction markets on February 17, believing operators have ‘no place’ in Utah.
The operator attempted to sue Borod on January 12 for allegedly breaching a non-compete clause included in his contract with Fanatics, eventually reaching a settlement on February 2.
After a string of losses, Kalshi’s preliminary injunction against the state of Tennessee has been granted.
The sports trading platform recently closed on a $75m Series B funding round led by Pantera Capital and submitted an application to the CFTC in hopes of becoming a licensed DCM.
The state’s Attorney General’s Office originally announced its intentions to file the civil enforcement action against Kalshi in Carson City District Court on February 11.
Public dispute escalates between state leadership and federal commodities regulator.
In a tonal shift, Selig has vociferously defended prediction markets on X and in the Wall Street Journal, while the CFTC has backed Crypto.com in the courts.
