Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Lotto.com, the nation’s first online lottery platform to digitally deliver draw games and scratch tickets, has announced a major milestone – reaching 4 million customers, and counting, in less than five years since launching in Spring 2021. As the fastest-growing lottery courier platform, Lotto.com continues to redefine accessibility and convenience for players nationwide. Customers have collectively won over $150 million in prizes through Lotto.com, including $90 million in draw wins and $63 million in scratch wins, with more than 7 million winning tickets ordered on the platform. These results highlight the excitement, ease and trust players have in Lotto.com’s modern approach to lottery.
NCAA President Charlie Baker has requested the Commodity Futures Trading Commission to pause all college sport offerings in prediction markets until the agency implements appropriate regulations. The NCAA sent a letter to the CFTC calling for a robust system of safeguards and detailed its willingness to work with the regulatory body to assist with developing the necessary guardrails to protect student-athletes and college sports. The critical safeguards requested include age and advertising restrictions, enhanced integrity monitoring, prop market prevention, anti-harassment measures, and harm reduction resources.
The Nevada Gaming Control Board has filed a civil enforcement action in the District Court for Carson City against BLOCKRATIZE INC. d/b/a POLYMARKET; QCX LLC d/b/a POLYMARKET US; and ADVENTURE ONE QSS INC. d/b/a POLYMARKET. In its complaint, the Board asked the court for a declaration and injunction to stop Polymarket from offering unlicensed wagering in violation of Nevada law. Polymarket operates a derivatives exchange and prediction market where it offers event contracts for sale. These products are offered for sale on Polymarket’s mobile app and are made available to people in Nevada. The Board considers offering sports event contracts, or certain other events contracts, to constitute wagering activity under NRS 463.0193 and 463.01962 and, therefore, entities offering such event contracts must be licensed.
Partnerships
High Roller Technologies Inc. announced it has entered into a binding Letter of Intent (LOI) with Crypto.com | Derivatives North America (CDNA), for an exclusive partnership to launch an event-based prediction markets product in the US. The events contracts will be offered by CDNA, a CFTC-registered exchange and clearinghouse and affiliate of Crypto.com, to customers through HighRoller.com. The partnership will offer people the opportunity to trade event contracts across markets including finance, entertainment, and sports, through a legal, engaging, and user-friendly platform.
High Roller Technologies Inc. announced it has signed a non-binding Letter of Intent (LOI) with Lines.com, a premier sports media platform owned by Spike Up Media, to enter into and execute a strategic marketing partnership designed to accelerate customer acquisition and brand awareness for High Roller’s planned entry into U.S. prediction markets. This LOI follows High Roller’s announcement of its strategic partnership with Crypto.com | Derivatives North America to launch a regulated event-based prediction markets product in the US. Through the contemplated strategic marketing partnership, Lines.com will serve as a key distribution and media partner, leveraging its high-intent audience, advanced automation infrastructure, and market-leading conversion performance to support High Roller’s prediction markets rollout.
