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Tennessee council asks CFTC to reject sports prediction markets

Regulation

Tennessee’s Sports Wagering Council asked the Commodity Futures Trading Commission not to permit sports event prediction markets in the state, submitting a letter for consideration at the CFTC’s 30 April roundtable. The council alleged that allowing the contracts would breach 13 state laws and regulations, including licensing requirements for sports wagering.

The request challenges whether sports event contracts can operate in Tennessee without state sports wagering licences.

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NCAA asks CFTC to suspend college sports prediction markets

The NCAA asked the Commodity Futures Trading Commission to suspend college sports prediction markets until stronger safeguards are in place, in written testimony to a congressional subcommittee. It also called for a minimum participation age of 21 and consultation with sports governing bodies before new college markets are approved; other witnesses defended existing industry controls.

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