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“We have made progress, such as increasing the direct tax to 15% and including the activity in the Selective Tax. Those benefiting from social programmes and those who joined the Desenrola programme were also prohibited from betting.”
He also pointed to the self-exclusion mechanism adopted by the government.
“The debate about prohibition will remain open in the country for the next few years,” he said. “It will be an institutional debate between the Supreme Court, Congress and the executive branch.
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On Wednesday, New Jersey Attorney General Jennifer Davenport announced that her office had filed a petition for writ of certiorari following an appeals court verdict from earlier this year that went in favour of prediction markets. That 2-1 verdict from the Third Circuit Court of Appeals was handed down in April, and New Jersey had until Thursday to petition the high court.
The petition poses the question of whether the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was enacted in 2010 in the aftermath of the Great Recession, “preempted states from regulating sports bets that occur within their jurisdictions if those bets are offered on markets registered with the Commodity Futures Trading Commission”. Prediction markets have argued that their event contracts are financial derivatives regulated by the CFTC whereas many states contend that they are simply sports bets by another name.
There is no guarantee the Supreme Court will hear the case but a separate appeals court ruling from 28 August bolsters its chances. In that case, a three-judge panel from the Ninth Circuit ruled unanimously in favour of the state of Nevada, creating a circuit court split, which is a hallmark of many Supreme Court cases.
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Dunn pointed out that ICE saw the same demand last year, with the Innovator Challenge alongside Microsoft and keynotes from the likes of AWS and Huawei.
This year, the team is responding with a new initiative, Hall 7. The launch of Hall 7 represents a stronger platform to drive the next phase of iGaming innovation.
Tech Race in Warsaw this September and Hall 7 at ICE in Barcelona this January are set to become sequential chapters of the same conversation. CTOs, CSOs and data leaders can expect to pick up where they left off four months later.
