TD Cowen: States retain edge in sports prediction market fight as CFTC weighs in

TD Cowen's Jaret Seiberg wrote Wednesday that U.S. states retain a slight legal edge over sports-focused prediction markets, despite the CFTC backing federal oversight with an amicus brief filed Tuesday. He said the Crypto.com vs. Nevada case could reach the Supreme Court, extending regulatory uncertainty into 2027–2028.