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That creates a stark contrast during peak football season when traditional sportsbooks spend heavily on promotions. Offers ranging from $350 to $365 from major operators make the $25 to $50 promotional matches typically seen on prediction markets appear modest by comparison.
“That said, channel checks indicate prediction markets are spending heavily on digital marketing, including app stores and pay-per-click advertising, which could make our forecast look conservative by the end of the season,” EKG concluded.
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“Our role as a regulator is not to stand in the way of innovation, but to help create the certainty and confidence needed for innovation to flourish responsibly,” Mizzi said.
The charter does not create new regulatory obligations and was designed to complement legislation including the EU AI Act and GDPR.
Instead, it proposed a risk-based approach. It suggested lighter controls on use cases such as coding assistants, but strong checks on customer-facing functions, particularly those involving fraud and responsible gambling.
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Philip Pietras, 52, admitted to stealing from more than 170 people, many of whom are senior citizens who sought to limit the emotional and financial burdens placed on their loved ones by prepaying for their funerals. But instead of placing those funds, meant for caskets and burial services, in escrow accounts, Pietras pocketed the money to gamble.
Pietras accepted a plea deal from the state, and prosecutors expect him to enter a guilty plea on Oct. 23 and be formally sentenced on Jan. 22, 2027.
Under the terms of the state’s offer, Pietras will admit to stealing his clients’ money for his personal use. In exchange for his admission, the state has recommended a prison sentence of 7.5 years instead of 15 years, followed by five years of probation.
