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The UK has historically maintained a high channelisation rate due to it being particuarly mature with a huge competitive offering. According to the report, up to 1,491 licensed sites provides sufficient choice for engaged players.

The report utilised various methods to estimate the size and scale of Europe’s black market, including web traffic, digital marketing, macros data and regulations in place across the 28 markets surveyed.

Helios, a specialist consultant in gambling web traffic, analysed the number of black market websites actively marketing across the 28 markets included in the report, between March and May.

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Navarro told Rashid she doubted his claims of rehabilitation, saying she was “very disappointed” and “not sure I believe” he is a changed person.

Navarro noted during Thursday’s hearing that she had not presided over Rashid’s original plea agreement and had previously expressed concern that the deal did not fully reflect the severity of his conduct.

At his 2021 sentencing, she described Rashid’s past behavior as “monstrous” and said his victims endured conditions resembling imprisonment.

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The legal wrangling extends to Michigan, where Attorney General Dana Nessel has rejected Polymarket and the CFTC’s arguments that the Michigan Gaming Control Board has no regulatory authority over prediction markets, even the ones allowing traders to buy and sell shares of sports outcomes.

Since returning its prediction market to the US, Polymarket has regularly engaged in nonconforming advertising. Painting a water tower in the company’s blue and branding the structure with its logo is the firm’s latest marketing ploy.

In March, Polymarket opened The Situation Room, a pop-up “newsbar” in Washington, DC. The bar and lounge’s televisions played various content related to prediction markets, like Bloomberg Terminals, cable news, and live social media feeds that were “dedicated to monitoring the situation.”