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The petition poses the question of whether the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was enacted in 2010 in the aftermath of the Great Recession, “preempted states from regulating sports bets that occur within their jurisdictions if those bets are offered on markets registered with the Commodity Futures Trading Commission”. Prediction markets have argued that their event contracts are financial derivatives regulated by the CFTC whereas many states contend that they are simply sports bets by another name.
There is no guarantee the Supreme Court will hear the case but a separate appeals court ruling from 28 August bolsters its chances. In that case, a three-judge panel from the Ninth Circuit ruled unanimously in favour of the state of Nevada, creating a circuit court split, which is a hallmark of many Supreme Court cases.
“We’re calling on the Supreme Court to resolve this issue and recognise that Congress did not silently make the sports-betting industry immune from state law,” Davenport said in a statement.
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Entain cut down its Ladbrokes retail estate in Ireland by over a third in April, amid reports it had withdrawn from discussions to sell its entire Ladbrokes retail estate in the market.
Last week, Bet365 also cut more than 300 jobs in response to the UK’s tax increase.
Kathryn covers bitesize breaking news with a primary focus on EMEA and US legislation. A proud North Walian, fluent Welsh speaker and lifelong Wrexham FC fan – long before Hollywood came calling.
About Cookie Rush Match 3
Integration of Genius Sports’ official in-game data with real-time market pricing will allow users to track play-by-play actions alongside dynamic market probabilities, prices and signals.
Users can compare like-for-like contracts and multi-leg positions across different exchanges, enhancing their insights and decision-making. Another feature of Prediction.com is its proprietary cross-venue engine, enabling users to compare multi-leg contract combinations.
In a statement, Genuis Sports said Prediction.com sought to address the “fragmentation” caused by users visiting platforms separately to access pricing information.
