Crash Course

What is Crash Course?

Prediction market operators are on legal losing streaks, confirming that Beynon is onto something when he says the regulatory environment is the biggest risk facing the industry.

“We continue to view regulation as the largest risk to prediction markets,” says the analyst. “While industry growth remains robust, adverse legal outcomes could materially impact sports contract availability and long-term adoption.”

Amid a string of losses in federal appellate courts, it appears increasingly prediction markets are angling to take their cases to the U.S. Supreme Court, banking that the high court will allow them to continue offering sports event contracts free of state gambling regulations.

What is Crash Course?

This particular lawsuit involving Fox Financial, one of a growing list IPI is battling, centers on an arrangement the company made with a third party, Forson Holdings. That entity had leased property from Fox in 2016, but fell behind. IPI had signed as a guarantor of that lease agreement and, as such, was responsible for covering Forson in the event payments weren’t made. However, it decided it didn’t need to follow the terms of the contract.

It seems like not a day goes by without IPI coming under fire for something else. The company’s chairwoman, Cui Li Jie, has already found herself in trouble and was previously held in contempt of court, but now has another black mark beside her name. She has been found in contempt again, this time for allegedly perjuring herself in court. A lawyer representing employees suing IPI and Cui produced evidence proving she had lied under oath, and Chief Judge Ramona V. Manglona has now agreed. She issued her ruling this morning, with Cui only able to respond, through an interpreter, “I don’t know anything, I don’t understand English.”

The post Ethical questions at IPI lead lawyer to exit as chair held in contempt appeared first on CalvinAyre.com.

How to play Crash Course

Through its membership with AiA, SmartSoft will participate in events such as regulatory discussions, strategic roundtables and research initiatives, alongside other operators and suppliers in the market.

SmartSoft CEO Guram Gotsadze said the company’s decision to join the AiA reflected its growing focus on the continent and its commitment to supporting the development of regulated and sustainable gaming markets.

“Africa is an important and growing part of SmartSoft’s international strategy, and joining the African iGaming Alliance represents an important step in strengthening our long-term commitment to the continent,” he commented.