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Rep. Don Davis introduced legislation that would ban federal candidates from trading prediction market contracts tied to their own elections and impose fines starting at $10,000.
A CNBC markets roundup highlighted growing Gen Z participation in sports betting, including survey data suggesting many younger investors view it as a form of investing.
Dechert named Carl Kennedy partner and head of commodities and derivatives, highlighting his CFTC background and prediction markets experience as federal oversight draws closer scrutiny.
The Seneca Nation says it has an agreement in principle with New York that excludes revenue sharing, while the state says no deal has been reached.
A senior leader of The Church of Jesus Christ of Latter-day Saints used the faith’s general conference to condemn sports betting and prediction markets, adding pressure to Utah’s ongoing legal fight over whether platforms such as Kalshi and Polymarket should be treated as gambling.
Maine’s Gambling Control Unit said it is monitoring DraftKings after a report alleged the operator used AI-driven tactics to keep customers gambling longer, while Massachusetts regulators have also opened an investigation.
