Connecticut lawmakers were due to hold a public hearing on a proposed bill to regulate prediction markets, according to the report. The available text provides no further details about the proposal.
A hearing could advance a state-level regulatory framework for prediction markets.
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Connecticut officials said three prediction market operators had left the state. The outlet also reported that PrizePicks had halted its Team Picks sports event contracts in Missouri following state enforcement.
Connecticut's Department of Consumer Protection issued cease-and-desist orders to nine prediction market platforms over sports event contracts offered to residents. The platforms include Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini and Underdog Predict.
Connecticut officials asked nine companies to stop providing sports event contracts to state residents. Officials also warned that the platforms’ rapid growth could expose certain groups to risk.
Connecticut's Department of Consumer Protection has issued cease-and-desist orders to nine prediction market operators, asking them to stop offering sports event contracts to residents of the state. The department said the companies are offering sports wagers without the licences required under Connecticut law.
Reportedly, Connecticut took enforcement action against nine prediction-market platforms on Thursday. Its news roundup also covered higher first-half earnings at Playtech, FATF money-laundering indicators related to gambling and another FanDuel prediction-market partnership.
Reportedly, the CFTC held a committee hearing intended to help develop its prediction market roadmap. The outlet described tense exchanges involving CME’s Duffy and Selig.