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Brazilian betting operators press government to regulate prediction markets

Regulation

Brazilian betting operators are seeking meetings with the government's economic team to argue that prediction-market platforms should face the rules applied to betting companies, reportedly. The campaign gained force after Polymarket expanded its presence in Brazil, while the government's position remains undecided.

A decision to apply betting rules to prediction markets could change the compliance requirements for platforms operating in Brazil.

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Regulation

US election leaves prediction market legal disputes before courts

The US mid-term election brought Democrats control of the House and Senate, while state regulators and prediction-market operators continue to dispute the legality of sports event contracts. New Jersey Attorney General Jennifer Davenport asked the Supreme Court in September to review whether federal law prevents states from regulating those contracts; a law professor quoted in the report said he expects the court to hear the challenge.

New Jersey Atty. Gen. Jennifer Davenport petitioned the Supreme Court in September to consider whether states may regulate sports offerings on prediction markets. Democrats took control of both the House and the Senate in the mid-term election.

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