Florida Tribe Sues DraftKings over Prediction Markets App
Dow Jones
3 hours ago
1215 ET - The Seminole Tribe of Florida filed a lawsuit against DraftKings alleging the sports-betting platform's prediction markets app constitutes illegal gambling. The tribe says in its lawsuit that DraftKings' super app, which offers prediction markets in states where sports betting is illegal, is "functionally identical" to the company's licensed sportsbook offerings. There is no distinction between a bet placed through DraftKings' sportsbook and a trade placed on its prediction markets platform, the tribe claims. The tribe also notes that DraftKings' marketing for the prediction markets product includes a gambling addiction hotline and ads for bonus wagers.
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