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Minnesota judge blocks planned event-contract ban
It was reported that Judge Katherine Menendez blocked Minnesota’s planned ban on most event contracts. Former senator Chris Dodd disputed the ruling’s interpretation of a rule he said should prohibit sports contracts.
Crypto.com’s OG sues Washington over event-contract oversight
OG, Crypto.com’s event-contract platform, sued Washington’s attorney general and gambling commissioners. It seeks declaratory and injunctive relief, arguing the state cannot regulate its federally approved contracts.
US House subcommittee holds hearing on sports event contract integrity
A US House Agriculture subcommittee convened a hearing on Tuesday on market integrity for sports derivative contracts. It was the first such hearing since members of Congress introduced more than a dozen proposed bills seeking guardrails on the sector. Representatives of the American Gaming Association and the Indian Gaming Association testified that states and tribal nations are losing millions in revenue to prediction markets.
Wisconsin election commission warns voters about event-contract betting
It was reported that Wisconsin Elections Commission warned election gambling could jeopardise residents’ voting rights. The notice drew opposition from two major prediction-market platforms.
CFTC proposes event-contract rules limiting sports and other markets
The CFTC has proposed a framework for overseeing event-based contracts in the United States, reportedly setting out a case-by-case review rather than a blanket ban. The proposal would exclude contracts involving player injuries, officiating decisions, isolated in-game actions, fights and pre-collegiate competitions, while subjecting terrorism, assassination and war contracts to scrutiny under a public-interest test.