By SectorWire desk ·
The report said that River Markets secured $8.5m in seed investment four months after its formation. Representatives from Coinbase and Novig participated in the funding for the execution and portfolio management supplier.
The seed financing funds a recently formed prediction market infrastructure supplier.
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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.
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.
The campaign gives investors an update on Novig’s marketing activity in prediction markets.
The access restrictions affect how prediction-market platforms can serve users in Taiwan amid enforcement over election-related betting.