Rotiki

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“We welcome efforts by leagues, players and regulators to build on that work and make clear that harassment has no place in sports,” Maloney told iGB.

The NFL referenced a comparable incarnation of the platform in a letter this summer to the US Commodity Futures Trading Commission on prediction markets. The league was one of several that submitted public comments to the CFTC in regards to the agency’s proposed rules on event contracts.

The comment period opened shortly after several members of a Senate subcommittee alluded to the rise of prediction markets and the subsequent risk of a spike in harassment cases at a May federal sports betting hearing. The hearing, commenced by a US Senate Committee on Commerce, Science and Transportation subcommittee, was held at the Russell Senate Building during the heart of the NBA and NHL Playoffs.

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I have lost money that was going to be used for my kids’ Christmas presents,” said one respondent. “It led to stress with my wife after having to borrow from her parents to make up that money.”

“I have lost money that was going to be used for my kids’ Christmas presents,” one respondent disclosed. “It led to stress with my wife after having to borrow from her parents to make up that money.”

Another bettor noted that gambling debts fractured personal relationships: “Sports betting ruined my six years of friendship because I couldn’t pay back the borrowed loan from my friend. He stopped talking to me.”

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Prediction market operators are on legal losing streaks, confirming that Beynon is onto something when he says the regulatory environment is the biggest risk facing the industry.

“We continue to view regulation as the largest risk to prediction markets,” says the analyst. “While industry growth remains robust, adverse legal outcomes could materially impact sports contract availability and long-term adoption.”

Amid a string of losses in federal appellate courts, it appears increasingly prediction markets are angling to take their cases to the U.S. Supreme Court, banking that the high court will allow them to continue offering sports event contracts free of state gambling regulations.