The Massachusetts Gaming Commission (MGC) has voted to reopen applications for online sportsbook licenses after bet365’s request for a Category 3 license pushed the...
Massachusetts issues warning on prediction markets
The Massachusetts Gaming Commission has issued a public notice telling sports betting operators that they cannot offer event contracts through prediction market platforms.
In the letter, the Commission stresses that all sports wagering must take place exclusively on approved platforms it has licensed.
It also cautions operators that working with prediction market services could put their licenses at risk, including the possibility of suspension or revocation.
Prediction market platforms aren’t required to obtain state-level licences, since they fall under the oversight of the Commodities Futures Trading Commission.
Meanwhile, all licensed operators in Massachusetts must submit a response by 24 November, outlining how they plan to comply with the Commission’s notice and what actions they will take to stay within the rules.
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