Ryan Butler retweeted
And here's the press release:
Novig Secures CFTC Designation, Bringing the First Prediction Market Built for Sports Fans Nationwide
Ryan Butler retweeted
CFTC v. Minnesota oral arguments move to Thur, July 2.
The CFTC, Kalshi, & Polymarket lawsuits will have a single hearing on that date.
Ryan Butler retweeted
Wow, @PlayProphetX is now a CFTC-designated exchange!
The initial filing was posted on December 3 so time to designation was ~7 months from posting.
There is more work to be done before ProphetX can start offering markets as a DCM but this is an exciting day. ProphetX also got DCO designation yesterday.
Ryan Butler retweeted
We are trying to keep track of all the prediction market litigation on a state-by-state basis, and, by my count, we're up to 19 states now involved in some kind of lawsuit:
covers.com/betting/predictio…
@Covers
Ryan Butler retweeted
Announcement:
WagerWire has received approval in principle in Gibraltar for Wire Markets Ltd., its prediction market subsidiary.
This approval sets WagerWire up to become just the second company to receive approval under Gibraltar’s prediction market framework.
We built the world’s first secondary marketplace for online sports bets. Now we’re taking the next step: building a regulated international foundation for prediction markets.
Initial activation is targeted around the start of the 2026 NFL season and major international soccer leagues.
Prediction markets are the natural evolution of what we’ve been building for years: liquidity, price discovery, transparency, and consumer control.
Ryan Butler retweeted
The CFTC's proposed prediction market rules have officially dropped:
"This proposal gives the Commission a durable, transparent framework to identify the contracts Congress directed us to scrutinize while letting legitimate markets move forward."
Ryan Butler retweeted
📣 Just Announced: NCLGS is pleased to announce that Mick Mulvaney will join the 2026 Summer Meeting, 7/ 8–11 in San Diego, for a featured session on the regulatory challenges surrounding prediction market platforms
Full release: conta.cc/4esWN8u
#NCLGS #predictionmarkets – at San Diego, CA
Ryan Butler retweeted
The CFTC's proposal to regulate prediction markets should be out soon.
The White House wrapped up its review of the measure on Friday, according to an update on OIRA's website.
Ryan Butler retweeted
NEW: Rep @JamesComer announces House Oversight Committee probe into Kalshi and Polymarket over insider trading, CNBC is reporting
Ryan Butler retweeted
I sat thru probably hundreds (thousands?) of hours of House hearings while McHenry was a member. Members debated Dodd-Frank, swaps regulation and all manner of financial topics. Never once did McHenry or any other member debate sports gambling oversight at the CFTC
Ryan Butler retweeted
Another angle to Minnesota trying to ban prediction markets via legislation is that it's a knock on the argument that PMs may catalyze OSB/iGaming legalization.
MN has neither, and lawmakers had both a PM ban and OSB legalization bill before them. They chose only the former.
Ryan Butler retweeted
What a week for prediction markets (it’s Wednesday):
-Minnesota legislature passes PM ban
-Polymarket US throws open doors
-DK launches PM parlays, changes fee structure
-Wisconsin judge says Ho-Chunk’s IGRA lawsuit vs. Kalshi can go forward
-Rep. calls for US House trading ban
Ryan Butler retweeted
DraftKings prediction market parlays now live. Also of note:
-currently offered via partnership with Crypto dot com
-DK expects to launch its proprietary exchange soon (the Railbird-powered version)
covers.com/industry/draftkin…
@Covers
Ryan Butler retweeted
DraftKings CEO Jason Robins says they have launched prediction market market-making, and that it is "already generating a positive return for us."
Ryan Butler retweeted
FOR IMMEDIATE RELEASE
MLB Players, Inc. Names Hard Rock Bet an Officially Licensed Sportsbook, Launches Player Imagery Integration
Ryan Butler retweeted
DraftKings Racing is now available in 9 states ahead of the Kentucky Derby.
Available states now include Florida, Louisiana, Montana, New Hampshire, Ohio, Oregon, Delaware, New Mexico, and Rhode Island.
DraftKings Racing is a key step in the company’s broader vision for its Super App, “DraftKings Sports & Casino,” which will bring together Sportsbook, Predictions, Casino, and Lottery into one unified experience, with access tailored by jurisdiction.
More: draftkings.com/draftkings-br…
Ryan Butler retweeted
📊 PENN Entertainment $PENN Q1 Earnings
✅ Earnings Beat
Adj. EPS: $0.11
YoY: ↑ 144% (from -$0.25)
✅ Revenue Beat
Sales: $1.779B
YoY: ↑ 6.37% (from $1.673B)
Swung from a fat loss to profit, beat both lines, and the market actually gave a shit — shares up +4.87%. Gambling stocks finally remembering how to party.