Massachusetts issues letter restricting sports prediction markets

(PRESS RELEASE) -- The Massachusetts Gaming Commission informed each licensed sports wagering operator that offering sports-related event contracts in the Commonwealth is prohibited. Several Massachusetts sports wagering licensees have announced plans to enter the prediction market space, and letters sent today reinforce the Commission’s position that wagering on sporting events is strictly governed by Massachusetts General Laws. The letters do not speak to sports-related event contracts offered outside of Massachusetts or event contracts in general, though the Commission reserves the right to address those topics in the future.