\n“Predicting a 6-3 vote for New Jersey,” sports journalist Andrew Brandt said last week. Gaming expert Daniel Wallach concurred with the same vote prediction.<\/p>\n<\/blockquote>\n
ESPN gambling writer David Purdum issued hypothetical odds of repeal -200, and a PASPA victory at +180.<\/p>\n
Prediction Markets<\/b><\/h2>\n
Traditional betting on political events is illegal in the United States, but the government makes an exception for “prediction markets” due to the valuable research they can produce. Congress has issued “no-action letters” for such exchanges, which indicates to platform operators that the government has no intentions of pursuing legal action against their businesses.<\/p>\n
PredictIt uses the prediction market loophole. Operated by New Zealand’s Victoria University, PredictIt limits how much money each person can place on a specific market to $850.<\/p>\n
In addition to PredictIt, other prediction markets targeting US residents includes the Iowa Electronic Markets and the bitcoin-focused Predictious.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Professional and Amateur Sports Protection Act (PASPA) of 1992 is going to be repealed by the US Supreme Court by spring: that’s the consensus of online political bettors who are wagering on the issue’s outcome. PredictIt.org, an online political betting market that sells shares of outcomes, asks, “Will the Supreme Court rule against the […]<\/p>\n","protected":false},"author":42,"featured_media":65155,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,16,1074],"tags":[],"acf":[],"yoast_head":"\n
Online Political Bettors Think PASPA Days Are Numbered<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n