By The Weekly Edge desk ·
Novig reported that its federally regulated prediction market exceeded USD125m in notional trading volume in its first week, according to Gambling Insider. The sports-focused exchange also faces regulatory disputes in five states.
Novig’s first-week trading volume exceeded USD125m while its sports prediction exchange faces regulatory disputes in five states.
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Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
Sports trading helped prediction market operators exceed their previous monthly volume record.
Recipients face possible administrative, civil or criminal proceedings if they disregard the commission’s demands, PlayUSA reported.
Operators face unresolved gaming definitions as the CFTC deliberates and Nevada and New Jersey assert authority over sports-outcome contracts.
The orders require nine prediction market companies to stop offering sports event contracts to Connecticut residents.
Nine prediction market platforms face Connecticut cease-and-desist orders over sports event contracts offered to residents.