Topic: gambling regulation
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Ex-Trump Official Targets Prediction Markets
Mick Mulvaney, a former Trump official, is leading a coalition to reclassify prediction markets as sports betting under state gambling laws, arguing they are not legitimate financial instruments. The debate centers on regulatory jurisdiction, with the CFTC currently overseeing these markets as de...
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New York Sues Valve Over Loot Box Gambling Allegations
The New York Attorney General has sued Valve, alleging its Steam platform illegally promotes gambling through loot boxes in games like Counter-Strike 2, seeking to halt the practice and recover profits. The lawsuit argues the system constitutes gambling, as players pay for randomized virtual item...
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Prediction Markets: A Risky Bet in the News
Prediction markets are positioning themselves as information sources, but their model incentivizes insider trading on future events, creating ethical and regulatory tensions with the news industry. The regulatory landscape is fragmented, with states viewing these platforms as a threat to gambling...
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