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Prediction Markets: The Redefinition of Gambling
Prediction markets are reshaping the legal definition of gambling by framing wagers on real-world events as financial instruments. By treating event-based contracts as derivatives rather than bets, these platforms challenge long-standing gaming law and jurisdictional authority. This reframing shifts decision-making away from legislatures and regulators and into the courts, creating legal precedent that could permanently alter how wagering is defined, regulated, and enforced nationwide.
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