Legal & compliance – Page 2

March 31, 2025

Kalshi CEO says he was left with no choice but to sue New Jersey, Nevada regulators

Company's suits seek declaratory and injunctive relief to prevent agencies from “enforcing their preempted laws”.

Kalshi dramatically raised the stakes over the weekend in the battle over whether it operates a legal prediction market for sports event-based outcomes, filing lawsuits in response to the cease-and-desist letters sent by gaming regulators from Nevada and New Jersey.

In a LinkedIn post on Sunday explaining the decision to file, Kalshi CEO Tarek Mansour said prediction markets are more than simply places to trade contracts, calling them “quintessential truth machines”. He said they “mobilise the most elegant and effective properties of free financial markets towards the pursuit of unbiased truth”.

Mansour claimed filing the lawsuits against agencies overseeing two of the biggest regulated sports betting marketplaces in the US was a last resort of sorts. The post stated: “We have made every effort to engage proactively with both Nevada and New Jersey and try to educate..

March 31, 2025

Weekend Report: NZ tackles gambling influencers, plus PropSwap-Bally Bet, Ladbrokes-Chester Racecourse deals

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday.

New Zealand authorities crack down on gambling influencers

First, authorities in New Zealand have launched a crackdown on social media influencers promoting offshore online gambling websites.

According to RNZ, the department of internal affairs (DIA) has issued its first takedown notices of influencers promoting illegal operators. Those that fail to comply could face hefty fines, the DIA warned.

The New Zealand Gambling Act makes it illegal to publish an advertisement for an offshore, unlicensed gambling operator.

“We’ve been investigating this,” director of gambling regulatory services Vicki Scott said. “We will be taking actions in relation to those influencers who are very publicly and clearly breaking the law.”

Malta regulator issues illegal gambling website warning

The Malta Gaming Authority (MGA) is also strengthening its activity to tackle illegal gambl..

March 27, 2025

Brazil betting CPI chief demands further laws to restrict online gambling access

Senator Soraya Thronicke, rapporteur of the parliamentary inquiry commission (CPI) on betting in Brazil, has urged politicians to back news bills to restrict consumers' access to online gambling.

Thronicke voiced her concerns at Tuesday’s (25 March) meeting of the betting CPI, which was established in November last year amid increased concerns over the impacts of gambling, ahead of the legal online market launch in Brazil on 1 January.

On Tuesday, Thronicke called upon the congress to establish new laws to restrict the population’s access to online betting sites.

She also criticised the long delay between the initial passing of legislation in 2018 and the final approval in December 2023. Many blamed the proliferation of illegal sites during that period for ongoing concerns over betting addiction in Brazil.

“We need to make it increasingly difficult [to access online betting sites],” Thronicke said at the hearing. “We are here to make amends. We need to legislate to minimise th..

March 21, 2025

Resorts World Las Vegas agrees to pay second-largest fine in Nevada gaming history

If approved, the $10.5 million fine over the casino's purported AML failures will be the largest in Nevada history behind a 2019 fine against Wynn Resorts.

The Nevada Gaming Control Board (NGCB) entered into a proposed stipulation for settlement with Resorts World Las Vegas (RWLV) on Thursday (20 March) in the latest chapter of a comprehensive investigation that has ensnared the bookmaker of Shohei Ohtani’s former interpreter.

The proposed settlement was reached months after the NGCB issued a 12-count complaint against RWLV stemming from the property’s purported anti-money laundering (AML) deficiencies. Given the enormity of the probe, questions arose of whether the NGCB would impose the largest fine against a casino in state history.

The stipulation includes a fine of$10.5 million (£7.7 million/€9.2 million), payable to the Nevada general fund. The proposed monetary penalty pales in comparison to a $20 million fine Wynn Resorts received in 2019 over the company’s failure to i..

March 21, 2025

Finland gambling reform bill enters parliament

Finland’s government has submitted a bill on its proposed new gambling framework to the country’s parliament, raising hopes of hitting online gambling trade body Rahapeliala Ry’s target of passing laws by mid summer.

Presented yesterday (20 March), the bill sets out a new-look gambling market for Finland. The main change in regulations would be opening up the country’s online gambling market to private operators, following in the footsteps of its Nordic peers Sweden and Denmark.

At present, Veikkaus holds a monopoly on online gambling, across lottery and online sports betting and casino games. Should the bill pass in its current form, this setup would stop by the end of 2026. Veikkaus will, however, keep exclusivity for lottery and scratchcards, as well as retail gaming machines and casino games.

Previous guidelines have said operators could apply for licences from 1 January 2026, when the new regulations officially come into effect. This would be with the view of the new-look mar..

March 20, 2025

Gambling Commission hands AML fine to Corbett Bookmakers

Great Britain’s Gambling Commission has ordered land-based operator Corbett Bookmakers to pay a fine of £686,070 (€818,039/$890,568) after an investigation highlighted numerous social responsibility and anti-money laundering (AML) failings within the offering.

Setting out the case today (20 March), the Gambling Commission said breaches took place between February 2022 and May 2024. Corbett Bookmakers operates 36 premises across the UK.

The retail operator, which has a number of betting pitches across UK racecourses, is also required to carry out a third-party audit to ensure it is effectively implementing AML and safer gambling policies, procedures and controls. This must take place within 12 months of the ruling (6 March).

Corbett allowed players to lose ‘significant’ sums

In terms of social responsibility failures, the commission provided examples of several issues it identified during a two-day compliance assessment. These include failing to flag a consumer who staked £23,674 in..

March 18, 2025

Dutch trade bodies urge more advertising opportunities in new gambling policy

The Licensed Dutch Online Gambling Providers (VNLOK) and Netherlands Online Gambling Association (NOGA) trade bodies have urged the government to allow for more opportunities for gambling advertising among licensed operators, as part of recommendations for new regulations.

Tomorrow (19 March), the government will host a round-table discussion on its proposals for new gambling policy. This will feature input from various stakeholders including a number of licensed operators, trade bodies and regulator Kansspelautoriteit (KSA).

Teun Struycken, minister for legal protection in the Netherlands, revealed in December that the government was working on new policy, with hopes of having a new gambling bill in place by the end of 2025.

In their submission, the industry trade bodies VNLOK and NOGA set out several key points for the government to consider before signing off on new laws. Much of these focus on protecting players from harm and on tackling unlicensed activity.

Advertising must r..

March 18, 2025

Lords veto gambling sponsorship ban in latest Football Governance bill debate

An amendment to ban gambling sponsorships and advertising in English football has been vetoed in the latest Lords debate on the UK's pending Football Governance bill.

Last night (17 March), the house of lords voted against the amendment via a clear majority of 339 to 74. It was raised in the latest version of the Football Governance bill, which this week finished being debated in the chamber.

The bill, which was initially introduced via the house of lords in October, aims to create an independent football regulator to oversee the sport and handle issues such as club licensing.

It passed the committee and report stages in early March, and the second iteration of the bill has been debated in the house over the last two weeks.

The clause seeking to ban all gambling sponsorships and advertising in the sport was put forward by Liberal Democrat politician Lord Addington in the latest round of amendments.

“Duty to prevent advertising and sponsorship related to gambling in English f..

March 13, 2025

Majority of popular illegal sites use licensed platforms in Sweden, reports ATG

New Q4 research from Aktiebolaget Trav och Galopp (ATG) has suggested 17 out of 20 popular illegal gambling sites use the same platform providers as licensed operators.

Published yesterday (12 March), an ATG-led report covering illegal gambling activity during Q4 in Sweden reported online channelisation was between 69% and 82% during the period.

This is some way below the government’s long-term target of 90%, set in 2019, when the country opened its regulated online gambling market.

Q4 figures are only marginally better than the 70% and 82% range reported by ATG for Q3.

Unlicensed website traffic up tenfold since 2019

Setting out its findings for Q4, ATG said its data suggests traffic to unlicensed sites in Sweden has increased tenfold since regulation in 2019.

As was the case in Q3, channelisation for online casino was much lower than the rate for sports betting. ATG placed casino channelisation at between 59% and 74%, while sports betting was in a range of 79% to 88%.

The ope..

March 12, 2025

MLB seeks CFTC “integrity framework” for prediction markets

Major League Baseball, perhaps hedging its position regarding the eventuality of trading on its product becoming being a widespread part of prediction markets, asked the Commodity Futures Trading Commission (CFTC) to create an “integrity framework” similar to those in place with states that authorise legalised sports betting.

The Closing Line substack was first to report MLB sent a letter via email to the CFTC noting that the “limited MLB event contracts available today do not carry the same integrity risks as prop bets even single-game bets, but we expect that equivalent offerings will arrive soon.”

To that end, MLB wants that integrity framework for prediction markets in a manner consistent with how it supports “legal sports betting at the state level based on robust regulation and relationships in which sports leagues are viewed as partners and integrity of competition is considered paramount.”

Watching and waiting on Kalshi

MLB’s request of the CFTC comes at a time when Kalshi ..

March 11, 2025

KSA raises concerns over Analyse Master, clears licensees of wrongdoing

Kansspelautoriteit (KSA) has cleared two of its licensees of any wrongdoing in a case related to sports betting tips provider Analyse Master, although the Dutch gambling regulator said it holds concerns over the nature of the platform.

Last autumn, Dutch journalism platform Pointer published an investigation into both Analyse Master and its associated Telegram channel. This heavily focused on its use of role models to promote online gambling.

Pointer highlighted how licensed operators in the Netherlands are prohibited from including role models in gambling adverts. This led KSA to launch its own investigation into Analyse Master, with details of this published today (11 March).

The probe saw KSA speak with two Dutch licence-holders who were mentioned on the Telegram channel and the platform. The regulator did not name either party.

KSA found one company had a partnership in place with Analyse Master but terminated the relationship when it became aware of the use of role models. As ..

March 10, 2025

Brazil Sport Commission to discuss bill banning betting ads this week

On Wednesday (12 March), the Sports Commission (CEsp) will discuss a bill banning fixed-odds betting advertising in Brazil.

The bill, authored by Senator Styvenson Valentim, would amend Article 33 of Law No 13,756/2018, which brought forward regulation for fixed-odds sports betting in Brazil. Article 33 would ban gambling ads across all channels and mediums.

Valentim’s justification for the ban on gambling ads relates to the belief that companies are disregarding restrictions on marketing, particularly towards younger people.

“This proposal is justified in view of the sudden change in the profile of bettors, which is now mostly made up of young people, who have at their disposal, 24 hours a day, with just one click, the possibility of placing bets without any barrier to impulsive behaviour,” Valentim said.

The CEsp will analyse the bill in a meeting starting at 10.30 local time on Wednesday. The proposal will then be sent to the Communication and Digital Law Commission (CCDD), whic..

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Tag: Legal & compliance