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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.
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Across the market, operators delivered high double-digit gains compared with Labor Day weekend, which featured a full slate of college football games but no NFL contests. Two operators, DraftKings and Underdog each saw triple-digit growth, delivering weekly increases of 125% and 119%, respectively. Three others, Polymarket, Crypto.com and Novig, saw gains of at least 30%, led by Polymarket with a weekly increase of 46%.
One interesting nugget surrounds weekend figures at Kalshi, where volume on Sunday only surpassed prior daily activity by $34 million, BofA data shows. Typically, Sunday volume for the quarter dwarfs that of College Football Saturdays due to the voracious demand for NFL offerings. BofA analyst Shaun Kelley attributes the irregularity to the possibility that Kalshi is “over indexing” on college sports.
Kelley also cited improvements at Robinhood as a possible factor for the regression at Kalshi. Just before the NFL season, Robinhood took a minority stake in Crypto.com and struck a deal to begin routing NFL contracts to OG.com, the site’s regulated prediction market platform.
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Vegas Matt made headlines recently after claiming that The Venetian escorted him off its property after he won a $400,000 jackpot on a Phoenix Link slot machine—a story that fueled widespread debate over how major resorts manage high-profile casino influencers on their gaming floors.
Young—whose previous credits include 2024’s Stealing Jokes starring Michael Rapaport; 2019’s Adam, starring Aaron Paul and Jeff Daniels; and My Man Is a Loser starring John Stamos—told The Hollywood Reporter that Morrow hired him directly to adapt his life.
“I was immediately drawn to the human side of his journey,” Young told the trade outlet, describing the project as a “rags-to-riches drama” tracing Morrow’s evolution from dedicated husband and father to viral gambling personality.