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Sporttrade plans to exit US online sports betting as it pursues market pivot

Licences & markets

Sporttrade told US customers that online sports betting access would be removed shortly as the company pivots towards prediction markets. Management is awaiting approval of designated contract market and designated clearing organisation licences from the derivatives regulator.

The planned exit would end Sporttrade’s online sports betting access while its prediction market licence applications await approval.

Earlier licence decisions by CFTC

DateCompanyAmountStoryAppeal status
PolymarketNot statedPolymarket opens US app access to selected usersNot stated
SporttradeNot statedSporttrade files with CFTC for contract market designationNot stated
FanDuel, CME GroupNot statedFanDuel expands Predicts to all 50 US statesNot stated
GeminiNot statedCFTC grants Gemini Titan a designated contract market licence in the USNot stated
PolymarketNot statedPolymarket says CFTC authorises US return as a contracts marketNot stated

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Licences & markets

NFA grants FanDuel FCM licence for US prediction market business

Reportedly, FanDuel secured National Futures Association membership and a futures commission merchant licence in the US. The approval could increase FanDuel’s control over its prediction market business. It does not authorise FanDuel to run its own designated exchange.

FanDuel now holds membership in the National Futures Association, together with an FCM licence. That status may let the operator exercise greater control over its US prediction market operations. It falls short, however, of permitting FanDuel to run a designated exchange of its own.

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