Smarkets Targets US Sports Betting and Prediction Markets
UK betting exchange Smarkets is pursuing a dual-track strategy in the US, applying for a CFTC license and state sports betting licenses amid regulatory battles.
Smarkets, a UK-based betting exchange, is making its way into the U.S. by pursuing two separate avenues. The company, which was founded in 2008, filed for a license with the Commodity Futures Trading Commission in March. The platform — which has over $60 billion in lifetime trading volume — also has pending applications to operate as a sportsbook in Illinois, Iowa and Michigan, according to Smarkets founder Jason Trost. "The reason we're doing the dual track is because the legal situation
Originally reported by CNBC
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