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CFTC signs sports-market oversight agreement with MLB in the US

Regulation

The CFTC has signed a memorandum of understanding with Major League Baseball to monitor sports prediction markets in the US, chairman Michael Selig said at a Washington conference this week. The regulator is also discussing cooperation with other major leagues to identify suspicious trading and potential insider activity; the CFTC says prediction markets and sportsbooks operate under different regimes.

The cooperation could shape how sports-related event contracts are monitored alongside state gambling rules.

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Regulation

MGCB agreement requires Polymarket to withdraw Michigan sports contracts

Polymarket will stop offering new sports event contracts in Michigan and close existing contracts by 25 November under a court-approved agreement with the Michigan Gaming Control Board. The state agreed to stay enforcement action while the company complies. Polymarket’s appeal of an earlier ruling remains pending before the Sixth Circuit.

Polymarket is withdrawing its sports-related event contracts from Michigan under a court-approved agreement with the Michigan Gaming Control Board (MGCB), the regulator said. Under the agreement, Polymarket will stop offering new sports event contracts in the state and close all existing contracts by 25 November. In return, Michigan has agreed not to take enforcement action against the company for as long as it remains in compliance.

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