Rise of prediction markets on sports events creates entry point for league-run exchanges.
For the quarter century-plus from 1992 until May 2018, the four prominent US-based pro sports leagues plus the NCAA acted as the legal bulwark against the expansion of legal sports betting outside Nevada.
Things changed when the Supreme Court announced its decision in Murphy v NCAA in 2018. That decision opened the floodgates for the legalisation of sports wagering nationwide. Senators and congressmen across the country heeded the call and the leagues, well, they played ball. This began with Major League Baseball and the National Basketball Association announcing a first wave of authorised gaming operators, which are effectively licensing and sponsorship agreements with certain sportsbooks.
Things may soon go much further.
In the wake of the latest mutation within the DNA of US sports betting – the apparent legality of Commodities Futures Trading Commission (CFTC)-regulated sports events contr..
