BetMGM CEO Adam Greenblatt’s tone grew particularly emphatic during the company’s third-quarter earnings call when he raised the subject of prediction markets. “The competitive environment remains intense,” he said, thanks to what he called “unregulated and illegal operators offering sports betting. ”
Consequently, Greenblatt said, BetMGM was emphasizing iGaming and de-prioritizing online sports betting in OSB-only markets. Even so, he praised BetMGM for “another quarter of controlled, disciplined execution.
Queried about the Commodity Futures Trading Commission’s apparent ban on iGaming products for prediction markets, Greenblatt emitted an audible sigh. “What an interesting question,” he replied. “If anything, the risk has been stayed for some time.”
