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Polymarket sues over sports prediction ban, debate about oversight lingers

A sports gambler with 100-dollar bills.
Photo: Aaron M. Sprecher/Getty Images

Recent lawsuits and regulatory announcements come as prediction markets have exploded into a multi-billion-dollar industry, with users betting on how much snow will fall.

Prediction market platform Polymarket has filed a federal lawsuit against Massachusetts regulators, seeking to block the state from restricting its prediction marketplace.

The company said the threat of enforcement is “immediate and concrete,” necessitating its filing. The case follows a recent ruling by that court against rival platform