Prediction Markets and States Clashed, Setting Off a Furious Political Battle - The New York Times

Latest News About Sports and entertainment bets avoid securities rules in Canada

Canadian securities administrators said Thursday that sports and entertainment prediction markets should not fall under securities law. Canadian watchdogs, including the CSA and CIRO issued guidance on event contracts. The decision declines federal oversight of those markets. Across the border, state officials tangled with prediction platforms in a political battle this month. August rankings of U.S. apps show Kalshi and Polymarket leading the sector. Other moves involve new exchange traded products and a Robinhood crypto contract tied to the XRP price.

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