By SectorWire desk · · Updated
The National Council on Problem Gambling considers prediction markets a form of gambling on 23 September. The council said its assessment applies irrespective of their legal classification.
Prediction market operators fall within NCPG’s assessment of gambling regardless of their legal classification.
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The case could affect whether states can regulate sports prediction markets and the safeguards operators face.
The coalition’s rejection of commercial funding highlights neutrality concerns linked to NCPG’s agreement with prediction market operators.
Heather Maurer’s departure changes NCPG leadership following the organisation’s announcement of a $2m partnership with Kalshi.
NCPG must replace its executive director while managing member departures linked to its Kalshi partnership.
Prediction market exchanges face a CFTC warning about manipulation risks involving public figures’ statements or actions.
The Kalshi partnership prompted Ohio’s regulator to end its NCPG relationship and drew opposition from Michigan and Nevada regulators.