Sports betting should be regulated as a financial product, not gambling, aspiring prediction market provider says

Novig CEO Jacob Fortinsky said his company will transition to a federal Designated Contract Market framework this summer to launch in all 50 states, while 57 Maiden's Adam Mastrelli said he was banned from two major sportsbooks within two months for being “sharp." What to know : Novig's CEO said it will transition this summer from a 35-state sweepstakes product to a federal Designated Contract Market (DCM) framework, going live in all 50 states. 57 Maiden’s co-founders were banned from two major sportsbooks within two months for being "sharps," driving them to prediction markets like Novig. Fortinsky believes the federal-state legal fight over sports event contracts is likely to reach the Supreme Court in two to three years.