By SectorWire desk ·
A federal judge granted a joint request from Novig and Massachusetts to pause their prediction market litigation. Novig and New Mexico officials separately requested a similar pause while other prediction market cases proceed.
Novig’s Massachusetts litigation is paused, while its joint request with New Mexico officials seeks similar relief.
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Sports trading helped prediction market operators exceed their previous monthly volume record.
Recipients face possible administrative, civil or criminal proceedings if they disregard the commission’s demands.
Nine prediction market platforms face Connecticut cease-and-desist orders over sports event contracts offered to residents.
Operators face unresolved gaming definitions as the CFTC deliberates and Nevada and New Jersey assert authority over sports-outcome contracts.
The orders require nine prediction market companies to stop offering sports event contracts to Connecticut residents.
Connecticut’s orders require nine platforms to halt sports event contracts and other alleged unlicensed online gambling while permitting withdrawals.