New York Attorney General Warns About Risks of Unregulated Prediction Markets

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New York Attorney General Letitia James has issued a consumer alert ahead of the Super Bowl, warning that unregulated prediction markets pose significant financial and safety risks to residents. James emphasised that these platforms, which allow bets on future events like elections and sports, operate without the consumer protections required of licensed gambling sites, such as age verification, problem gambling safeguards, and responsible advertising standards. She also noted rising concerns from financial analysts about credit overextension and loan defaults connected to these markets. State regulators maintain that prediction markets often fall outside the oversight of the New York Gaming Commission, potentially exposing users to harmful outcomes.

Source: https://news.worldcasinodirectory.c...isks-of-unregulated-prediction-markets-121543