New York attorney general warns of prediction-market sports contracts
New York Attorney General Letitia James warned that prediction markets offering sports contracts are not overseen by the New York Gaming Commission and lack protections required of licensed sportsbooks. She said the platforms do not meet state standards for safeguards including age limits, responsible-gambling tools and financial oversight; their operators maintain that the products are federally regulated derivatives.
The warning highlights a dispute over whether sports-related prediction contracts fall under state sports-betting rules and protections.