Ryan Butler

“I'd imagine this card will outperform almost every numbered card this year by a considerable amount, outside of the McGregor International Fight Week card." - Brandon Yaeger, Lead Combat Sports Trader at Caesars Sportsbook, on UFC Freedom 250

Welp...

I may or may not be making an appearance

Wow, @PlayProphetX is now a CFTC-designated exchange! The initial filing was posted on December 3 so time to designation was ~7 months from posting. There is more work to be done before ProphetX can start offering markets as a DCM but this is an exciting day. ProphetX also got DCO designation yesterday.

The competition in prediction markets will be so intense and widespread that market conditions will force transaction fees to go down in the coming years, said Sporttrade COO David Huffman during today's SBC Summit

There will be $5 to $10 trillion in prediction market trading volume in 2028, said Flip Pidot of the Coalition for Political Forecasting during today's SBC Summit

Election trading will be ubiquitous in 2028, said PredictIt CEO John Aristotle Philips during an industry conference today; Major news organizations will embed prediction market odds in their coverage and will adjust their reporting based on shifts in PM trading

Insider trading could inflict long-term damage on the prediction market industry, potentially sparking over regulation, said Aristotle/PredictIt CEO John Aristotle Philips during today's SBC Summit

We are trying to keep track of all the prediction market litigation on a state-by-state basis, and, by my count, we're up to 19 states now involved in some kind of lawsuit: covers.com/betting/predic… @Covers

Chocktaw Nation's Tom McDonald said there's a "68% chance" sports betting is legalized in Oklahoma next year; speaking during today's SBC Summit, McDonald said the key will be education in the state Senate, which rejected a tribal-backed bill earlier this year

Tribal gaming leaders at an industry conference today reiterated potential race-based legal challenges to the Indian Gaming Regulatory Act, the federal law that regulates gaming on tribal lands; removing the law could upend tens of billions in annual revenue from the 600+ casinos

Two prediction market operators geofence themselves and prohibit trades on tribal lands, Chocktaw Nation of Oklahoma's Tom McDonald said during today's SBC Summit. He said other prediction market operators still accept trades.

Bet365 sportsbook is still striving for a Top 3 position across North America, Chief Marketing Officer Stephanie de Flora said during today's SBC Summit

DraftKings Predictions Exec Jeanine Hightower-Sellitto during today's SBC Summit: "I think prediction markets just become part of the overall landscape of both the financial and the sports betting outlook, and they're just another tool and another product customers use on an ongoing basis, and they're not controversial. They're well accepted. People understand how they work, and it's a new innovation in financial markets for the customer."

Sporttrade CEO Alex Kane pitched to Mass. regulators to permit sportsbook operators with prediction markets (FanDuel, DraftKings, Fanatics) to be able to offer both, arguing it would expand the player base and generate more state tax revenue, Kane said during today's SBC Summit

DraftKings Prediction Market Head Jeanine Hightower-Sellitto: PMs, sportsbooks are distinct, complementary products

The federal CFTC-led approach to regulation will spark more innovation than the current state-by-state gaming structure, Alex Kane, founder of Prediction Market platform Sporttrade said during today's SBC conference

"I think it's terrible," said Mark Hicks, NCAA Director of Enforcement - Development, when asked about prediction markets allowing users age 18 to 20 to trade on sports event contracts during a panel from today's SBC conference. "I worry we have a public health crisis coming."

Kevin Mullally of the International Association of Gaming Regulators reaffirmed his groups opposition to the federal prediction market regulatory structure; the IAGR has already filed an amicus brief on behalf of Nevada regulators and expects to do the same when the case reaches the Supreme Court, Mullally said