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Connecticut has ordered nine prediction market operators to stop offering sports event contracts to residents, arguing that the products amount to unlicensed sports betting.
The Department of Consumer Protection issued cease-and-desist orders to Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini and Underdog Predict. The companies must also allow Connecticut customers to withdraw existing account funds.
Officials said the platforms allegedly accepted wagers from users under 21, self-excluded individuals and customers betting on Connecticut college sports. The action forms part of a wider state investigation that has also included nearly 30 subpoenas.
Source: https://news.worldcasinodirectory.c...ne-prediction-markets-over-sports-bets-124339
The Department of Consumer Protection issued cease-and-desist orders to Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini and Underdog Predict. The companies must also allow Connecticut customers to withdraw existing account funds.
Officials said the platforms allegedly accepted wagers from users under 21, self-excluded individuals and customers betting on Connecticut college sports. The action forms part of a wider state investigation that has also included nearly 30 subpoenas.
Source: https://news.worldcasinodirectory.c...ne-prediction-markets-over-sports-bets-124339