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Brazil sports betting secretary says sponsorship values are inflated at least fivefold

Regulation

Brazil’s National Secretary of Sports Betting and Economic Development, Giovanni Rocco, said sportsbook sponsorships have pushed up sponsorship values in football by at least five times. He said almost all Serie A and Serie B clubs have sportsbook master sponsors, and argued that betting tax revenue should fund public policies for athletes. Rocco also said the government is developing a national policy to combat match-fixing with the finance and justice ministries.

Rocco’s comments address sponsorship dependence, the proposed use of betting tax revenue and government plans to tackle match-fixing.

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Masto says sports prediction markets are gambling and criticises CFTC directive

Nevada senator Catherine Cortez Masto said sports prediction markets constitute gambling and criticised a CFTC directive on access to federally regulated exchanges. The directive gave exchanges 30 days to comply or explain why they could not, a requirement that the coverage says complicates operators’ responses to state court orders.

Federally regulated exchanges have 30 days to lift restrictions based on traders’ residence within the United States or explain why they cannot, under an order issued last week by the CFTC. The order added compliance difficulties for prediction market operators facing court-ordered access limits in states including Michigan, Nevada and Washington.

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