BetMGM CEO Calls CFTC Casino Moves ‘Cosmetics’, Expects States to Win

BetMGM CEO Adam Greenblatt said on Tuesday that the CFTC’s latest moves to keep casino-style products out of its remit have not removed the risk from prediction markets, calling what is happening “cosmetics in pursuit of survival.” He expects the Supreme Court to side with the states. On BetMGM’s third-quarter earnings call on Oct. 13, Greenblatt addressed the CFTC’s Oct. 9 rule changes, including an interim final rule that codifies the agency’s position that “casino-style gambling products, including wagers placed on sportsbooks and casino games,” fall outside the definition of a swap.

Source: Bitcoin.com News