Sports betting at the Supremes

The U.S. Supreme Court may hear a case about prediction market platforms this term. The question is whether prediction market platforms are considered betting or financial products. 

How did we get here? Let’s peak at a law suit by a state Attorney General alleging that one such platform offers “event contracts” such as “sports event contracts” which  is tantamount to sports betting.

Similarly, the Nevada Gaming Control Board issued a cease and desist letter to a prediction market platform earlier this year. 

Law.com | Supreme Court Will Likely Decide Legal Status of Prediction Markets, Law Professor Says