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Federal judge leaves Wisconsin election-wager voting restriction in place

Regulation

A federal judge denied Joseph Giganti Sr.’s request to block Wisconsin’s restriction on voting in an election a person has wagered on. The ruling leaves the restriction in force but does not decide whether prediction-market contracts count as wagers under state law; the judge accepted that interpretation only for the injunction request.

The ruling leaves election-contract users exposed to Wisconsin’s voting restriction while its application to prediction markets remains unresolved.

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Regulation

US election leaves prediction market legal disputes before courts

The US mid-term election brought Democrats control of the House and Senate, while state regulators and prediction-market operators continue to dispute the legality of sports event contracts. New Jersey Attorney General Jennifer Davenport asked the Supreme Court in September to review whether federal law prevents states from regulating those contracts; a law professor quoted in the report said he expects the court to hear the challenge.

New Jersey Atty. Gen. Jennifer Davenport petitioned the Supreme Court in September to consider whether states may regulate sports offerings on prediction markets. Democrats took control of both the House and the Senate in the mid-term election.

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