Twister Roulette

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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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Santos’ case represents the most severe among four disciplinary settlements announced by Kalshi, which has faced increasing scrutiny concerning insider knowledge risks and event outcome influence by market participants.

Santos is not the only individual disciplined for trying to game the prediction market system. Ben Midgley, a Republican candidate for the governorship of Maine, admitted purchasing under $1,000 worth of contracts related to his campaign. He accepted a $5,434.30 fine and a three-year suspension.

Meanwhile, Laurie Buckhout, a candidate for a North Carolina congressional seat, was fined $2,589.96 and suspended for three years after buying under $1,000 of contracts linked to her race.

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MDJS has turned to the courts to challenge offshore betting. On 12 January the Casablanca commercial court, sitting in summary proceeding, ordered Maroc Telecom, Orange Maroc and Inwi to block 19 named betting sites and local payment intermediaries. Non-compliance carried a penalty of MAD10,000 a day.

Medias24 reported the judge’s reasoning: “Internet access providers are technically the only parties able to end the manifestly unlawful disturbance resulting from access to unauthorised betting sites.”

The order was short-lived. The commercial court of appeal granted a stay on 26 January. According to Medias24’s 12 February report, it then annulled the order and rejected MDJS’ claim, ending the daily penalty. MDJS could still appeal.