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The sweepstakes sports betting platform, which has seen its current business model threatened by a sharp uptick in regulatory scrutiny, confirmed to sportico that it is applying to become a federally regulated prediction market exchange overseen by the commodity futures trading commission cftc. The prophetx sports exchange is due to hit us this summer. Prophetx is requesting a change of clothes.
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This platform, known for its innovative trading tools and compliance measures, has successfully navigated the stringent regulations established by the new york state department of financial services nydfs. States except for arizona, idaho, louisiana, michigan, montana, new jersey, nevada, ohio, tennessee, and washington. Prophetx is applying to go nationwide in the us and take on its rivals in the booming industry for sportsthemed prediction markets and.
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