PENN Entertainment chief executive Jay Snowden reiterated that the operator would not risk its licences by entering prediction markets, according to a media report. He argued that state regulators should take a more assertive approach to the sector.
PENN’s position signals that it will not pursue prediction markets while it sees a risk to its licences.
Quarter ended 30 September 2026
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A White House spokesperson said prediction-market companies would not attend President Donald Trump’s technology-sector event, contradicting reports that executives from Polymarket and Kalshi might take part. The event was described as a meeting with technology leaders; prediction markets were due to feature at the CFTC Innovation Advisory Committee meeting in Washington.
Rush Street Interactive said its North American sportsbook had not been affected by prediction markets. The company said its Q2 application to the CFTC to operate a designated contract market was intended to prepare for possible developments, with no imminent plans to offer sports event contracts.
Former White House chief of staff Mick Mulvaney said President Donald Trump is not prioritising who regulates prediction markets, according to the report. Mulvaney discussed the federal-state dispute over sports event contracts at a gaming legislators’ meeting and predicted that the US Supreme Court would ultimately decide the question.
CFTC chairman Michael Selig said prediction markets offer financial instruments rather than gambling, arguing that the commission has authority over permit-holding providers. His comments followed a Michigan judge’s order requiring Kalshi to stop offering sports-related contracts temporarily or face a $120,000-per-day fine; Kalshi said it would comply while challenging the order in court.
SafeBets said its platform is exempt from Minnesota's new law criminalising prediction market operations, which is due to take effect in August 2026. The company said users do not deposit or risk money, and that its prize pools come from trading gains rather than participant losses; the exemption claim is SafeBets' own interpretation.