Paul Grewal(@iampaulgrewal):State gaming law are a mismatch for PMs. State gambling laws "are ill-suited to regulating prediction markets because they do not concern themselves with fostering safe, fair markets at all. They do not address price discovery, information aggregation, risk hedging, or market manipulation. Instead, state gambling laws largely seek to balance two countervailing goals: (1) restricting supposedly immoral behavior, and (2) promoting local economic development."

Paul Grewal

@iampaulgrewal

Member, Legal and Global Affairs Staff @Cognition. A little technology, a lot of law, too much Ohio sports

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Paul Grewal@iampaulgrewal

2026.06.25 14:39

State gaming law are a mismatch for PMs. State gambling laws "are ill-suited to regulating prediction markets because they do not concern themselves with fostering safe, fair markets at all. They do not address price discovery, information aggregation, risk hedging, or market manipulation. Instead, state gambling laws largely seek to balance two countervailing goals: (1) restricting supposedly immoral behavior, and (2) promoting local economic development."