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NEXTPredict speakers debate authority over US prediction markets

Regulation

Speakers at the second day of NEXTPredict Summit New York on 23 October discussed who should decide which prediction markets can operate. Panellists cited unresolved court challenges over whether sports event contracts fall under federal swaps regulation or state gambling rules, while former CFTC officials raised concerns about the agency operating with one commissioner.

The unresolved division between federal and state authority affects prediction-market operators and state gaming regulators.

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Regulation

Prediction markets dominate G2E debate in Las Vegas

Prediction markets dominated discussions at Global Gaming Expo in Las Vegas, which ran from 28 September to 1 October. Polymarket, Kalshi and Robinhood are seeking court orders to block state enforcement against their sports-event contracts. State gaming regulators allege these products constitute illegal sports betting, while the CFTC claims exclusive jurisdiction.

Prediction markets were the main subject of discussion at the Global Gaming Expo (G2E) in Las Vegas, which ran from 28 September to 1 October, according to an account of the event. Polymarket, Kalshi and Robinhood are pursuing court orders in state and federal courts to block gaming regulators and attorneys general from enforcing gaming regulations on their sports-event contracts. State gaming regulators contend the operators are taking sports bets illegally, while the Commodity Futures Trading Commission (CFTC) claims exclusive jurisdiction over the derivatives.

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