Add 'Maryland Joins Sports Event Contract Betting Clampdown'

Maryland-Joins-Sports-Event-Contract-Betting-Clampdown.md

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+<br>And then there were 6.<br>
+<br>On Monday, Maryland ended up being the 6th state in the U.S. (that we understand thus far) to send cease-and-desist letters to federally managed "prediction markets" [providing](https://www.addgoodsites.com/details.php?id=714576) de facto sports betting via event agreements.<br>
+<br>[- Officials](https://gabrielladesignco.com/2020/05/17/stop-and-smell-the-jasmine/6b5b5045-2954-4c4d-b1d2-e7724bd7702c/) in Maryland, Ohio, Illinois, New Jersey, Nevada, and Montana have sent out [cease-and-desist letters](https://www.topsocialbookmark.club/story.php?title=the-bet9ja-promo-code-2026-is-yohaig) in  with federally regulated sports [event agreements](https://code.wxk8.com/tamikabirdsong).
+- Those agreements are a growing form of competition for state-regulated sportsbooks.<br>
+<br>The letters were sent out by the Maryland Lottery and Gaming [Control Commission](https://mineralis-wiki.minesparis.psl.eu/index.php?title=Utilisateur:ReneKippax96) to Kalshi, Robinhood, and Crypto.com, all of which have gotten [comparable correspondence](http://beeparadisebg.com/vacation-time) from other state regulators.<br>
+<br>"Kalshi is running in Maryland and is offering and performing what is, in reality, wagering on sporting events," Maryland Lottery and Gaming [Control agency](https://gratisafhalen.be/author/georgiaglos/) director John Martin composed in one of the letters. "However, Kalshi does not hold a sports betting license issued by the Commission, its wagers have actually not been authorized by the Commission, and it is not otherwise licensed under Maryland law to use wagers on sporting events."<br>
+<br>For these reasons, Martin included, Kalshi and the others are being directed by the commission to "right away stop and desist these legal offerings" in the state. The prediction markets have 15 days to notify the regulator that they are complying.<br>
+<br>The letters from the Maryland sports [wagering regulator](https://www.garagesale.es/author/noeminathan/) follow comparable ones sent by authorities in Nevada, New Jersey, Ohio, Illinois, and, according to [Kalshi CEO](http://tevauto.com/home/bms48-xdm/) Tarek Mansour, [Montana](https://gitlab.1337.at/delilafacy771).<br>
+<br>Join the club<br>
+<br>Those efforts represent increasing awareness of and [opposition](http://youtools.pt/mw/index.php?title=The_Bet9JA_Promo_Code_This_2026_Is_YOHAIG) to federally managed forecast markets like Kalshi. That [opposition](http://gailmyburghschoolofballet.co.za/portfolio-items/gallery-6/gail-myburgh-school-of-ballet_gallery-09/) has ramped up since event contract trading expanded to include sports results, like the Super Bowl and March Madness.<br>
+<br>Sports event contracts are now [offering](https://gitlab.dangwan.com/portersankt339/the-bet-9ja-promotion-code-this-2026-is-yohaig/-/issues/1) users with the opportunity to make de facto wagers on numerous video games and leagues in all 50 U.S. states, not just the ones that have legalized sports betting. Therefore, they are a growing source of competitors to state-regulated sportsbook operators like DraftKings and FanDuel.<br>
+<br>Kalshi, for example, has actually helped with more than $380 million in trading in March [Madness-related](http://solodkiyvozik.com.ua/ua/poleznoe/zameniteli-sahara-ua) agreements, such as users buying "yes" contracts for Houston to win the guys's college basketball championship.<br>
+<br>Kalshi, Robinhood, and Crypto.com are also all managed by the federal Commodity Futures Trading Commission (CFTC), not states.<br>
+<br>In Nevada and New Jersey, where Kalshi is pressing back on the cease-and-desist letters, the business has actually argued it is subject to federal law and oversight.<br>
+<br>"We are literally like a monetary exchange, but the underlying trading is events," Kalshi CEO Tarek Mansour said in a recent TechCrunch interview. "The CFTC is our regulator. If the CFTC tells us to stop, we will absolutely stop.<br>