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Prediction Markets Inch Closer to the Supreme Court: State of Crypto
The filing seeks a ruling on whether sports-related prediction contracts are illegal gambling or federally regulated swaps, a question affecting at least 20 states.
Ninety days. It is the time that the Supreme Court of the United States will have to decide whether or not to accept one of the most delicate cases of recent years in the field of finance and gambling: to determine whether the forward markets related to sport are bets to regulate state by state or financial swaps under the federal umbrella [...]