BetMGM rules out sports prediction product while regulators oppose it

BetMGM will not offer sports prediction markets while its regulators oppose them, CEO Adam Greenblatt said on the company’s third-quarter earnings call. He said the company considers such markets illegal sports betting under current law and reported no effect on regulated online sports betting handle growth so far. BetMGM will reconsider if the legal position is clarified and regulators change their stance.