DraftKings extortion lawsuit moves forward
A New York federal court is allowing VIP player Steven Jacobs' lawsuit against DraftKings to move forward.Jacobs sued DraftKings last June, claiming the company worked...
DraftKings eyes prediction market with new business registration
An American gambling company offering sportsbooks and daily fantasy sports services, DraftKings, announced its debut in the prediction markets space by registering a new business entity called “DraftKings Predict” with the National Futures Association (NFA).
Officially known as Gus II LLC, this registration, filed back on July 30, 2024, shows DraftKings’ serious intentions to expand into this rapidly growing sector. The DraftKings Predict page also includes the company’s headquarters and contact details, with notable executives such as CEO Jason Robins and co-founder Paul Liberman listed as key players.
Day by day, prediction markets are getting more and more famous following the Trump administration’s more relaxed stance on regulation. The regulatory environment is shifting, with figures like Brian Quintenz, formerly of prediction market Kalshi, now heading the Commodity Futures Trading Commission (CFTC).
CEO Jason Robins said last month:
“It’s certainly something that we have a keen interest in seeing how it plays out. So, I think there’s some, in the next couple of months, 60 days or so, there’s going to be a CFTC ruling and all sorts of other things, so I think we’ll know a lot more over the next few months.”
The potential of prediction markets, including event contracts on topics like sports and politics, has caught the attention of industry giants like Crypto.com and Robinhood. These contracts could reshape the market by bypassing state legislators and allowing nationwide betting.
DraftKings to dismiss Facebook tracking lawsuit
DraftKings, a leading online sportsbook in the US, announced its move to dismiss a lawsuit filed by Jeffrey Wan, who claimed the company violated the Video Privacy Protection...
