Prediction markets are creeping into the national spotlight and depending who you ask, they’re either the future of federally regulated gambling or a dressed-up loophole designed to skip the state-by-state slog.
“I believe that these prediction markets can be classified as gambling,” Jonathan Sprung from MediaTroopers said during SBC Summit North America. “I also think that’s a definition many people associated with igaming will agree with. It’s similar to the debate on daily fantasy sports, which many people view as some form of sports betting, but legally, it has a different definition.”
The argument isn’t new. Fantasy sports, sweepstakes casinos, and social games have all tested the edges of what qualifies as gambling.
