By SectorWire desk ·
ESMA examines prediction markets in its September risk monitor. Sports contracts accounted for 73% of Kalshi trading activity in the data reviewed, while ESMA warned that European operators and consumers face a different regulatory environment from the United States.
ESMA warns European operators face a different regulatory environment from the United States for prediction markets.
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FanDuel and DraftKings face competition from Kalshi and Polymarket for sports betting customers as the NFL season approaches.
US casino operators are investing in dining, concerts and other attractions to draw Gen Z visitors.
State regulators argue sports contracts require gambling licences, challenging platforms operating under CFTC oversight with substantial sports trading activity.
Nevada has no fallback plan if the Supreme Court sides with prediction market operators, leaving its stance uncertain.
The comments raise licensing and tribal-law questions for prediction-market operators and tribes considering agreements with them.
The poll gives investors divided expectations for DraftKings and Flutter, including adaptation, displacement and consolidation with prediction markets.