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By SectorWire desk ·
VGW paid $8m to settle a sweepstakes casino matter in New York on 10 September. The outlet also reported that VGW responded to the settlement.
VGW’s settlement establishes an $8m cost for resolving its New York sweepstakes casino matter.
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The ruling strengthens state regulators’ position in disputes over whether prediction platforms must comply with gambling rules.
Coinbase must suspend Michigan prediction markets while Michigan withholds enforcement during compliance and related appeals.
Coinbase’s withdrawal follows Michigan enforcement against sports event contracts that regulators consider unauthorised sports betting.
The dispute pits state gambling enforcement against the CFTC’s claim of exclusive jurisdiction over sports-event contracts.
Kalshi and Robinhood face a Ninth Circuit ruling backing key aspects of two California tribes’ challenge.
CNBC linked growing interest in Polymarket and Kalshi to football’s return and the approaching November election.