Missouri Attorney General Catherine Hanaway, a Republican, has sent cease-and-desist letters to six prediction market companies, arguing that their sports-related event contracts amount to unlicensed sports wagering under state law. The move adds Missouri to a contentious legal battle between states and the federal government over who has authority to regulate prediction markets, which allow […]
Missouri Attorney General Catherine Hanaway, a Republican, has sent cease-and-desist letters to six prediction market companies, arguing that their sports-related event contracts amount to unlicensed sports wagering under state law.
The move adds Missouri to a contentious legal battle between states and the federal government over who has authority to regulate prediction markets, which allow users to bet on the outcome of events ranging from sports, elections, and the weather.
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