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The ongoing battle between states’ rights advocates and those who support federal regulations in sports trading is not black and white. Carton indicated in his monologue that engaging in the trading of sports-event contracts amounts to unregulated gambling. Designated Contracts Markets, better known as prediction markets, are regulated on the federal level by the US Commodity Futures Trading Commission.
On Wednesday, a CFTC deputy general counsel posted an ad on LinkedIn for a senior position with the commission. It appears that the attorney is seeking assistance in crafting formal rules for event contracts, a set of regulations he described as the “most impactful” the commission has written “in decades”.
The Polymarket ad campaign debuted less than 48 hours before Wednesday’s NFL regular-season opener. The matchup is a rematch of last season’s Super Bowl as the Seattle Seahawks host the AFC Champion New England Patriots.
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Wynn forfeited $130 million to the federal government for a slew of proxy betting violations, which was “believed to be the largest forfeiture by a casino based on admissions of criminal wrongdoing”, per federal prosecutors.
Internally, the board has also been hard at work revising and overhauling several sets of regulations, including rules for gaming salons, AML reporting and now technical standards. Dreitzer represents the fifth NGCB chair to take office since 2019, and the partial term he inherited runs through January 2027.
He told iGB earlier this year he’d “certainly be interested” in a full four-year term after the current one expires. With a background in suppliers and testing labs, Dreitzer is acutely aware of the technical challenges facing the state.
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AGCs in England that offer round-the-clock access to gambling machines will instead require planning approval.
The prime minister is also considering imposing an increased tax on gaming machines in the UK, based on a proposal from the Social Market Foundation. This could be seen in the upcoming autumn budget.
The National Lottery registered ticket sales of £7.9 billion, up 0.9%, while prize payouts slightly decreased by 0.6% to £4.5 billion. Contributions to good causes increased by 2.8%, estimated between £1.6 billion and £1.7 billion.