Regulatory

    CFTC warns Novig and ProphetX against listing scorigami, sports micro contracts

    CFTC warns Novig and ProphetX against listing scorigami, sports micro contracts

    The Commodity Futures Trading Commission has instructed prediction platforms Novig and ProphetX not to list certain self-certified sports event contracts, including scorigami and micro-betting markets. The regulator expressed concern that short-term micro contracts, such as which player scores first in a basketball game, are vulnerable to manipulation. The agency has asked Novig to explain how it intends to ensure market integrity and prevent manipulative activity across these markets.

    Namibia advances gambling reform proposals amid regulator staffing concerns

    Namibia advances gambling reform proposals amid regulator staffing concerns

    Namibia has progressed its gambling reform agenda by hosting regional validation workshops on proposed amendments to its Lotteries Regulations and Gambling and Gambling Activities Regulations. The sessions follow an initial consultation window held across March and April. The reforms advance as authorities concurrently navigate operational and staffing concerns within the regulatory body.

    The Economist says Brazil’s gambling crackdown has failed to address industry concerns

    The Economist says Brazil’s gambling crackdown has failed to address industry concerns

    According to an analysis by The Economist, Brazil's regulatory crackdown on its rapidly expanding gambling sector has failed to resolve key issues surrounding household debt, problem gambling, and organized crime. The publication argues that the government's regulatory framework and recent restrictions on online gambling have struggled to effectively mitigate the market's associated risks. Consequently, broader socio-economic concerns regarding the country's betting industry remain largely unaddressed.

    Polymarket sues Ohio over sports betting restrictions, seeks injunction against enforcement

    Polymarket sues Ohio over sports betting restrictions, seeks injunction against enforcement

    Polymarket has filed a federal lawsuit against Ohio to challenge the state's sports betting regulations and secure an injunction against enforcement. The operator argues that Ohio's licensing mandates unlawfully restrict interstate commerce and clash with the Commodity Exchange Act. The filing follows a recent Sixth Circuit federal appeals court decision concerning competitor Kalshi's sports event contracts.

    US senator Ted Cruz to file bill seeking state control over sports prediction markets

    US senator Ted Cruz to file bill seeking state control over sports prediction markets

    US Senator Ted Cruz is preparing legislation that would grant state and tribal governments regulatory authority over sports-related contracts offered by prediction markets. The proposed measure would bar operators from offering contracts tied to gambling activities without approval from relevant jurisdictions. Cruz intends to formally introduce the bill following the November midterm elections.

    New Jersey introduces mandatory player monitoring and intervention rules for online gambling

    New Jersey introduces mandatory player monitoring and intervention rules for online gambling

    New Jersey has introduced mandatory behavioral monitoring regulations for online casinos and sportsbooks, becoming the first US state to mandate data-driven problem gambling interventions. Announced by Attorney General Jennifer Davenport, the framework establishes a three-stage intervention process for patrons showing signs of at-risk play. The rules expand monitoring obligations for all licensed digital operators in the state.

    FIRST.bet CEO reacts to Brazil betting ban and outlines European & African goals

    Following a provisional order signed by President Lula to ban online sports betting and casino operations in Brazil, FIRST.bet's chief executive has responded to the sudden regulatory shutdown. The operator had previously invested significant capital into local compliance and operational infrastructure ahead of the ban. Moving forward, the company is shifting its strategic growth objectives toward established and emerging markets in Europe and Africa.