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British Columbia classifies unauthorised prediction contracts as illegal gambling

Regulation

British Columbia’s Independent Gambling Control Office said sports- and entertainment-based prediction contracts offered without authorisation constitute illegal gambling under provincial law. It said the products fall outside securities and derivatives rules following guidance from the Canadian Securities Administrators and the Canadian Investment Regulatory Organization; enforcement may follow under the province’s existing framework.

Unauthorised prediction platforms offering sports or entertainment contracts could face enforcement in British Columbia.

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Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

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