PALM BEACH, Fla. — MLB is contemplating the idea of getting into the sports prediction betting market business, Commissioner Rob Manfred said. Manfred said the league gave an educational presentation to owners during this week\u2019s Owners\u2019 Meetings. <\/p>\n
\u201cWe thought it was important for owners to be updated on why prediction markets are different than sports betting, and why we might want to consider being in business with prediction markets in an effort to protect our integrity and get the kind of protections we need,\u201d Manfred said. <\/p>\n
Sports betting markets are regulated by state gaming commissions, while sports betting prediction markets are overseen federally by The Commodity Futures Trading Commission. Sports betting prediction markets, however, continue to face scrutiny.<\/p>\n
Prior to the Super Bowl, N.Y. Attorney General Letitia James issued a consumer warning that stated, \u201cPrediction markets may appear as modern, high-tech platforms for speculation or \u2018forecasting,\u2019 but in practice, many operate as unregulated gambling without the basic protections New York consumers both deserve and expect from properly licensed operators.\u201d <\/p>\n
Granted, Manfred has signaled that MLB would be open to federal oversight of sports betting as well. <\/p>\n
\u201cThe interesting thing about the prediction markets is there\u2019s an opportunity to work with the Commodity Futures Trading Commission,\u201d Manfred said. \u201cIf you got where you want it to be, you\u2019d have a nice federal regulation, it\u2019d be the same everywhere. Kind of a nice thing.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"PALM BEACH, Fla. — MLB is contemplating the idea of getting into the sports prediction betting market business,…\n","protected":false},"author":2,"featured_media":477968,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[558],"tags":[64,63,4034,591,85],"class_list":["post-477967","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mlb","tag-au","tag-australia","tag-baseball","tag-mlb","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/477967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=477967"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/477967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/477968"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=477967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=477967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=477967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}