Prediction market advocates dispute whether sports contracts constitute betting
Speakers at a NEXT Summit Valletta panel disagreed over whether prediction markets offering sports event contracts amount to betting. Gaming lawyer Daniel Wallach argued they should be barred under the Federal Wire Act, while Bill Pascrell III said prediction markets are distinct from wagering. LiveDuel chief executive Will Martin said the format could change sportsbook customer experiences.
The disputed classification affects how operators and suppliers assess the legal status of sports event contracts.