Trading or gambling? How a new way to wager on sports is evading Nebraska’s betting ban
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Nebraska's ban on online sports betting is being evaded by new prediction markets that allow users to wager on sports and other events. The platforms claim they are not gambling operations, but rather commodity exchanges, and are regulated by the federal government rather than individual states.
Nebraska's casino industry says prediction markets are undermining the state's prohibition on internet gambling. Users can wager on sports, politics, and other events using apps like DraftKings and FanDuel. The platforms claim they are not sportsbooks, but rather commodity exchanges. They have hosted over $97 million in wagers on Nebraska Cornhuskers men's basketball games. The state's attorney general has signaled support for a lawsuit against one of the platforms, Kalshi. The lawsuit argues that prediction markets are illegal gambling operations.
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