Legal
CFTC orders prediction markets to unblock geofenced states within 30 days
The Commodity Futures Trading Commission has directed prediction market platforms to remove geofencing restrictions on certain US states within 30 days. The order targets platforms that have been blocking access to event contracts in states where operators had previously limited availability. DraftKings, Fanatics, and FanDuel were noted as platforms that currently restrict access to sports event contracts in some jurisdictions.
Why this matters?
Forces a uniform national market for CFTC-regulated event contracts and eliminates the patchwork of state-by-state availability that has given some platforms competitive cover in select jurisdictions.
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