US Banks Warn Employees Against Finance & Politics Prediction Market
Major US banks have warned employees of potential termination for engaging in finance- and politics-related prediction market trades.
Regulation
706 Posts
Italian Senate proposes 2% levy on domestic football bets for sport
A bill introduced in the Italian Senate proposes a 2% levy on all domestic football bets to create a dedicated funding stream for Italian football, with proceeds earmarked for youth development, women's football and problem gambling prevention.
Wall Street Tightens Rules for Prediction Markets
Big banks and brokerages are cracking down on prediction markets as fears grow that they could be misused to trade on confidential information.
NCLGS: State Lawmakers' Strategies Against Sports Prediction Markets
Prediction markets were naturally going to be a prominent focus at this year’s National Council of Legislators from Gaming States (NCLGS) Summer Meeting.
Dutch Supreme Court rules against automatic refunds for illegal
The Supreme Court of the Netherlands has ruled that gambling losses incurred with unlicensed online operators before the country's regulated online gambling market launched on Oct. 1, 2021, are not automatically recoverable, dealing a setback to players seeking reimbursement for historical losses.
Indonesian Government Deports 92 Chinese Citizens for Online Gambling
Indonesian officials have deported 92 Chinese nationals accused of orchestrating a gambling and investment fraud syndicate.
Kalshi Denied Injunction in New York as Arizona Appeals to Ninth
Kalshi suffered a blow to its legal status in New York as a judge declined to grant the company a preliminary injunction in its lawsuit against the state’s Gaming Commission.
ESMA Warns Certain Prediction Market Contracts Subject to EU Binary
The European Securities and Markets Authority (ESMA) has clarified that certain prediction market contracts fall under existing European Union financial regulations governing binary options, marking the regulator's first public intervention on the fast-growing sector.
Japanese Officials Plan to Use MGM Osaka Casino Profits for Gambling
Japanese officials plan to use profits from the MGM Osaka, the nation’s first integrated casino-resort, to pay for betting addiction treatment programs.
Texas Doctors Raise Concerns Over Prediction Markets
An association of doctors in Texas has raised concerns over the current form of prediction markets, arguing that these businesses are now actively contributing to gambling addiction, and that more needs to be done to safeguard consumers, mostly through tighter regulatory measures.
NCAA Investigates Cincinnati Over Brendan Sorsby
The National Collegiate Athletic Association (NCAA) has put more salt in the Brendan Sorsby wound after the University of Cincinnati received a letter of inquiry from the association this week.
Tribe Files Lawsuit Against Kansas Lottery for Illegal Lotto
Tribe Sues Kansas Lottery Over Allegedly Illegal Lotto Operations on Its Land. On Monday, July 6, tribal leaders filed a federal lawsuit against the lottery in the US District Court for the District of Kansas.