By SectorWire desk ·
ProphetX closed a $35m funding round. A fund linked to French gambling group FDJ participated, with the US platform directing the capital towards further development.
The funding provides capital for ProphetX’s platform development.
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Robinhood Derivatives faces a 16 October compliance deadline for Ohio’s cease-and-desist order concerning sports-event contracts.
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.
Connecticut’s orders require nine platforms to halt sports event contracts and other alleged unlicensed online gambling while permitting withdrawals.