SectorWire
SearchGet the daily briefing
Menu

South African Bookmakers Association calls for prediction-market ban

Regulation

The South African Bookmakers Association has called for prediction markets to be banned in South Africa, citing sports integrity, oversight and money-laundering concerns. SABA says existing legislation may not authorise the products and recommends treating them as exchange-style betting; it also calls for a legislative review and says operators should not be authorised until a framework is introduced.

SABA's position raises questions about whether prediction-market operators can lawfully serve South African customers under current rules.

Request a correction

Keep reading

Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

Continue reading