SectorWire
SearchRegister
MenuClose

Arizona gaming director urges CFTC action on sports prediction markets

Regulation

Arizona Department of Gaming director Jackie Johnson urged the CFTC to act on sports event contracts in a letter dated 2 June, according to the report. Johnson argued that platforms including Kalshi offer sports contracts to Arizona residents without state sports-betting licences and said the activity conflicts with Arizona law. The ADG had issued cease-and-desist orders to prediction market platforms the previous month.

The regulator’s position challenges how prediction market platforms may offer sports contracts to Arizona residents.

Request a correction

Flag an issue

Keep reading

Regulation

SEC seeks coordination with CFTC on prediction market oversight

SEC chair Paul Atkins said the agency discusses prediction-market regulation with the CFTC at least weekly and sees possible overlap in their responsibilities, according to the report. He did not announce regulatory changes, but said the position could shift with congressional developments. The SEC does not treat prediction markets as gambling, he said.

Continue reading