By SectorWire desk ·
The report said that Novig sued New York in the same week it introduced its US prediction-market platform. The lawsuit seeks to protect the operator’s interests in the state.
The litigation accompanies Novig’s nationwide prediction-market rollout.
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Novig’s lawsuit seeks protection from potential New York enforcement as it expands access.
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.