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Democratic gains raise US scrutiny of prediction markets

Regulation

An analysis of the US betting industry said Democratic control of Congress could intensify scrutiny of prediction markets, including through hearings and investigations. It also said newly elected attorneys general in Texas and Georgia may join state efforts challenging sports event contracts, though neither has announced plans to do so.

Potential federal oversight and state challenges could affect how prediction-market operators offer sports event contracts in the USA.

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Deals & M&A

New York teams expand prediction-market partnerships amid state scrutiny

New York sports teams have entered prediction-market partnerships while state officials treat sports-event contracts as unlicensed wagering, according to the report. Polymarket partnered with the Yankees on 6 August, Novig became the Mets’ exclusive prediction partner on 30 July, and Kalshi has a multiyear partnership with Madison Square Garden announced in May. The report says officials have not stated whether these partnerships breach the advertising prohibition.

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