Missouri orders prediction markets to stop offering sports contracts
Missouri’s Attorney General,Catherine Hanaway,a Republican,has issued cease-and-desist orders to six prediction market companies,claiming their sports-related event contracts constitute unlicensed sports wagering under Missouri law. this action places Missouri at the center of an ongoing legal dispute between states and the federal government regarding authority over prediction markets, wich allow betting on outcomes related to sports, elections, and weather events.
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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