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Arizona gaming regulator urges CFTC to act on prediction markets

Regulation

The Arizona Department of Gaming urged the CFTC in a 2 June letter to act against prediction-market providers. Director Jackie Johnson said their event contracts constitute sports betting and should require state licences, fees and taxes; she also raised consumer-protection and tribal-community concerns.

The request challenges whether prediction-market providers should face state sports-betting licensing and oversight requirements.

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CFTC secures temporary injunction against Arizona action on prediction markets

A US District Court in Arizona temporarily barred the state from proceeding with legal action against prediction market providers after granting the CFTC’s injunction request, according to a media report. The order remains in effect until 24 April. The CFTC also named five initial members of its Innovation Task Force, which will work on regulatory frameworks including prediction markets and event contracts.

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