By The Weekly Edge desk ·
EGR reported that Nevada congressmen introduced a bipartisan proposal against sports-based prediction markets. The proposed Prediction Markets are Gambling Act would prohibit exchanges from listing sports and casino-style contracts.
The proposal would restrict the event contracts exchanges may list.
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Polymarket’s request for help against New York and Kalshi’s potential tribal agreement concern prediction market operators.
The ruling and machine removals are followed by 81 job cuts at Republic Amusements, while legalisation legislation remains stalled.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The ruling puts businesses hosting skill-game machines at risk of losing the revenue those devices generate.