Prediction Markets Precarious Future Creates Diverging Opinions Odds Shark
The precarious legal position of prediction markets is causing giant sportsbooks to feign caution on the future of the medium, while other companies like Coinbase are all in.
+ Monitoring: FanDuel, DraftKings, and BetMGM are all monitoring the prediction market industry and could jump in at any time.
+ Coinbase: Crypto-exchange platform Coinbase is ignoring the sportsbooks’ caution and is ready to jump into prediction markets.
+ Source: The source of the hesitation from sportsbooks is the tenuous legal position that prediction markets find themselves in.
In separate second-quarter earnings calls, the CEO’s of Flutter, FanDuel’s parent company, and DraftKings both mentioned the possibility of their respective companies entering the prediction market space.
Peter Jackson (Flutter) mentioned the company remains cautious towards prediction markets but is in a solid position should it eventually enter the market, thanks to the brand BetFair Exchange, which it also owns.
 |
“via BetFair Exchange shared similar characteristics with events contracts, and this will help inform our views. We’re closely monitoring regulatory development, and are assessing opportunities and potential participation strategies this may present for FanDuel.” -Peter Jackson, CEO Flutter |
|---|
Jason Robins (DraftKings) may have expressed caution, but the company is seemingly ready to take the first step in entering the prediction market space. DraftKings may acquire RailBird Exchange, which holds a designated contract market (DCM) license from the Commodity Futures Trade Commission (CFTC).
BetMGM also shares both sportsbook giants’ trepidation in entering the prediction market too soon. CEO Adam Greenblatt said the company won’t be caught “flat-footed” by being the first to enter the market
CoinBase Jumps Into The Fray
Meanwhile, Coinbase has decided it’s going all in on prediction markets. Vice-President of Product Max Branzburg told CNBC recently that Coinbase plans to become an “everything exchange”, where you can exchange stocks, crypto, and prediction market contracts with crypto.
 |
“Everything you want to trade, in a one-stop shop, on-chain. … We’re bringing all assets onchain — stocks, prediction markets, and more.” -Max Branzburg, Coinbase |
|---|
The company is planning a “gradual international rollout” per Branzburg in the coming months. Coinbase’s announcement is fresh off the Securities and Exchange Commission’s launch of “Project Crypto”. The project’s goal is to allow crypto-based trading.
Prediction Market Growth Stalls
The hesitation from brands like FanDuel and DraftKings stems from the precarious legal position of prediction markets in the US. State gaming authorities believe prediction markets are illegally sidestepping their gaming laws. And that argument recently received a positive nod in Maryland.
A court in Maryland ruled Kalshi could not get an injunction against the Maryland Lottery and Gaming Control Commission’s (MLGCC) cease-and-desist letter. The decision allows the MLGCC to stop Kalshi and any other prediction market from offering event contracts in the Old Line State.
That decision could easily spill over to New Jersey and Nevada, where Kalshi has similar open court cases. Not to mention the potential for this decision to reach every other state in the Union. Such a result could certainly cool the explosive growth in the prediction market space that has seen $2 billion in sports contract trading volume on Kalshi’s platform alone in less than six months.
-
ProphetX -
Kalshi -
Dabble Fantasy -
DraftKings Pick6 -
DraftKings DFS -
MLB Matchups -
WNBA Matchups -
CFL Matchups -
MLS Matchups
Industry News
PLAYSTUDIOS Planning Nationwide Sweepstakes Casino Launch
Chris FeeryIndustry News
Comparing Missouri’s Tethered And Untethered Sports Betting Licenses
Michel Anderson
NFL
BetMGM: $50K Casino Bonus + NFL Opening Night Tickets
Jonah Cameron
Industry News
Ohio Gaming Commission Debating MicroBet Ban
1 dayMichel AndersonChris FeeryMichel AndersonJonah Cameron1 dayMichel Anderson
FAQ
Does Nova Scotia have an online casino?
Nova Scotia Online Casino has become a popular choice for gamers seeking excitement and convenience. With a wide range of games available, the Nova Scotia Online Casino offers players the chance to enjoy everything from slots to table games right from their homes.Jul 31, 2025
How big is Halifax casino?
The casino encompasses 138,340 sq ft (12900 m2) of total building area, of which approximately 27,120 sq ft (2520 m2) is gaming area and 169,740 sq ft (15800 m2) for the main activi- ties.
Is casino nova scotia online legit?
Details of the scam: The scam falsely promises exclusive casino welcome bonuses and free spins to individuals who download an alleged Casino Nova Scotia online app. This is a phishing attempt targeting our community, and we urge caution.
Is there a dress code for Halifax casino?
There is no dress code.Dec 20, 2013
How big is Halifax casino?
The casino encompasses 138,340 sq ft (12900 m2) of total building area, of which approximately 27,120 sq ft (2520 m2) is gaming area and 169,740 sq ft (15800 m2) for the main activi- ties.
Play Online Casino in Canada: Legal Guide 2025
Online casino gaming is legal in Canada, but the regulatory framework is complex and varies significantly by province, with each having its own gambling authority and set of rules. Canada’s gambling laws are primarily governed at the provincial level, following a 1985 decision that transferred most regulatory powers from the federal government to the provinces. The federal Criminal Code sets broad parameters ensuring gambling operations must be provincially licensed, but the detailed execution and regulation are provincial responsibilities.
When and why was the double zero added to the American roulette wheel?
When and why was the double zero added to the American roulette wheel? The double zero was added to the American roulette wheel in the mid-19th century. The exact year is not clear, but it is believed to have been added around the 1860s. The reason for its addition was to increase the house edge, making the game more profitable for the casino. At the time, gambling was not regulated in the United States, and casinos were free to set their own rules and payouts.
How to Download WSOP NV
How to Download WSOP NV 1. Visit the WSOP site 2. Locate the download link and click on it 3. When the download completes, run the installation on your device 4. When the installation completes, you can log in with your existing account or register if you do not already have one 5. Make a deposit via the mobile interface to fund your account 6. You will have access to all tournaments and cash games available via the desktop software
What is the origin of the name Roulette?
What is the origin of the name Roulette? The origin of the name “roulette” is French and it means “little wheel”. The name is derived from the fact that the game is played on a small wheel that spins around, with players betting on where the ball will land. The word “roulette” was first used in its current context in the 18th century, although the game itself dates back much earlier.
With numerous gaming options, live entertainment, and dining, Join us at Casino Nova Scotia Halifax or Sydney for a GREAT time
This site only collects related articles. Viewing the original, please copy and open the following link:Prediction Markets Precarious Future Creates Diverging Opinions Odds Shark
