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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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Distributed gaming followed at 27%, then casinos at 25%.

Again highlighting his view that this was a low-risk merger, Angelozzi described Spain and Italy as “among the best globally” in terms of markets.

Angelozzi observed particular opportunity in Spain, where he estimated Cirsa holds 6% of the online market, suggesting it’s more fragmented and less developed than in Italy.

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After assessing part of a 75-page PDF spreadsheet of transactions provided by Evolution, Spectrum found crypto wagers had been placed on Evolution games provided by Hub88, as alleged by Black Cube.

Up to 1,124 occurrences of virtual currencies being used were discovered by Spectrum, which added up to 11.5% of the sessions included in the spreadsheet provided by Evolution.

“Spectrum notes that Evolution relies upon its clients to develop and implement these additional AML and KYC procedures. Further, Evolution does not review the operator’s compliance with this requirement of enhanced due diligence,” the report says of Evolution’s compliance processes for preventing the use of virtual currencies.