By SectorWire desk ·
The report said that CME Group chief executive Terry Duffy called sports prediction markets gambling and anticipated a Supreme Court dispute. Duffy said CME intended to avoid the controversy surrounding sports contracts while expanding its prediction-market activity.
Duffy’s comments address the legal controversy surrounding sports prediction markets.
Request a correction / right of reply
Linked through shared companies, regulators and people, or one step further through the graph.
The committee examined manipulation risks, while disputed examples highlight disagreement over which products breached standards.
Duffy’s comments question the regulatory treatment and economic purpose of some prediction market products.
Duffy drew a distinction between CME’s sports contracts and some other prediction-market products.
The licence could increase FanDuel’s control over its prediction market business without authorising it to operate its own designated exchange.
Kalshi’s tribal partnerships and FanDuel’s continuing shift away from CME mark changes in their business relationships.
FanDuel’s licence enables direct event contract brokering and direct economic control of its prediction market operations.