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Its failure also leaves unresolved disputes over prediction markets and state and tribal gaming authorities, outside a comprehensive congressional framework. Those issues took on new significance during Senate floor debate over the bill, as concerns about federal commodities oversight extended to markets typically regulated at the state or tribal level. 

The latest filing is an early step in filling some of that regulatory gap for the CFTC. The agency can issue regulations under its current statutory authority, but those regulations would not necessarily be as permanent as legislation passed by Congress. 

For now, the important news is that the CFTC has officially started the administrative process. Only once the rulemaking progresses and the underlying proposal is available for public review will the extent of its eventual crypto framework become clear.

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Lead reporter Rebecca Liggero Fontana for taking me under her wing. You won’t meet a more generous soul than Becky. She shares this unbridled passion for the casino and tech space, that is just contagious and I’m glad I got to experience that unabashed joy for the gambling industry.

I want to thank Derek Tonin, my editor who I would speak with every day I worked at Calvinayre.com. I’m grateful for the opportunity I have had to work with Derek. He’s an editor who doesn’t shy away from the blunt criticism and its inspiring being on the other end of the call. He’s a guy you would want in the foxhole right next to you, someone who isn’t afraid to give the blunt truth and also celebrate the wins with you.

There’s a huge team of writers, video editors and IT developers who have made Calvinayre.com this huge success. Raise a glass to them, they have helped turn this site into the success that it is.

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Since returning its prediction market to the US, Polymarket has regularly engaged in nonconforming advertising. Painting a water tower in the company’s blue and branding the structure with its logo is the firm’s latest marketing ploy.

In March, Polymarket opened The Situation Room, a pop-up “newsbar” in Washington, DC. The bar and lounge’s televisions played various content related to prediction markets, like Bloomberg Terminals, cable news, and live social media feeds that were “dedicated to monitoring the situation.”

A month earlier, Polymarket opened a free grocery store in New York City. The promotion ran Feb. 12-16, with shoppers allowed to gather up to $50 per person in free groceries.