Cash Pig

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Van Bruggen told the gambling committee that both Meta and Google were open to maintaining a dialogue with the government on this.

She said the government would receive a report every six months on illegal gambling advertising across these platforms. 

The KVA’s statement mirrors a broader European regulatory trend where authorities are increasingly scrutinising how major internet platforms facilitate traffic to unlicensed gambling services.

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“Prediction markets have branded themselves as legal and safe, but the reality is they are not adhering to Connecticut’s consumer protection standards,” Lamont wrote in a statement.

While such orders have become customary around the nation this year, Connecticut’s missive took it one step further. The department also issued nearly 30 subpoenas to licensed gaming service providers and a bevy of media outlets. Those issued subpoenas include ones served to PayPal, Sportradar Solutions and Plaid, a payment processing app that holds a gaming licence. Although those companies are not under investigation, the subpoenas appear to be the first against service providers that conduct business with prediction markets in some form.

– In the wake of a consequential ruling by the US Court of Appeals for the Ninth Circuit against Kalshi, two operators are taking separate paths in an effort to overturn the decision. On 28 August, the Ninth Circuit ruled in a 3-0 decision that sports event contracts do not qualify as federally regulated swaps under the Commodity Exchange Act. Earlier this week, Kalshi filed for an en banc re-hearing with the Ninth Circuit, this time before an 11-judge review. Robinhood, meanwhile, filed a petition of certiorari with the Supreme Court in a move to effectively bypass the Ninth Circuit. It is widely believed that a circuit split between the Ninth Circuit and a separate decision by the Third Circuit will prompt the Supreme Court to take up the case.

What is Cash Pig?

Polymarket also has marketing deals with Major League Baseball (MLB), Major League Soccer (MLS), the NHL and UFC.

While the Polymarket/Yahoo Finance situation is one of the earliest examples of a severed relationship between a prediction market operator and a media entity, that doesn’t mean those “divorces” will permeate the two industries.

There’s widespread belief that old guard media companies are incentivized to feature event contract data on their sites or reference it in select publications as a way of better connecting with younger readers and viewers.