By SectorWire desk ·
The report said that tastytrade launched CFTC-regulated prediction contracts aimed at active financial traders. The brokerage uses Apex Fintech Solutions’ clearing infrastructure and provides separate accounts for the products.
Apex’s infrastructure supports tastytrade’s new prediction contract offering.
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The proposed arrangement gives Gemini Titan exclusivity for regulated crypto event contracts distributed through Apex’s futures commission merchant.
The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
Dreitzer’s comments dispute the distinction used to separate sports-event contracts from conventional betting.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The outcome could determine whether prediction market operators can continue serving the US market under federal or state rules.