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Senate to Scrutinize Trump's CFTC Nominee on Crypto and Betting Regulation
November 19th, 20253 mins

Senate to Scrutinize Trump's CFTC Nominee on Crypto and Betting Regulation

Key Issues for the HearingNov 19 (Reuters) - U.S. senators are set on Wednesday to press Michael Selig, President Donald Trump's nominee to lead the Commodity Futures Trading Commission, about his plans to overhaul cryptocurrency regulations and election betting, among other hot-button issues.Selig is currently chief counsel for the Securities and Exchange Commission's crypto task force and an adviser to Trump's Republican SEC chair Paul Atkins. His nomination follows a period of increased focus on the digital asset space, with the Trump administration signaling a more industry-friendly approach.Political and Industry ContextTrump courted the crypto industry on the campaign trail with promises to be a "crypto president." His administration has since pushed for policies favorable to the sector, dropped probes into crypto firms, and signed into law a new regulatory framework for stablecoins. The CFTC, which oversees commodity derivatives markets, would also take a more active role overseeing the crypto industry if Congress passes a bill, dubbed the CLARITY Act, that includes proposed changes in crypto market supervision.The White House withdrew its previous nominee for CFTC head, former Republican CFTC commissioner Brian Quintenz, who said in September that influential crypto entrepreneurs Cameron and Tyler Winklevoss urged Trump to stall his nomination. The pair, who donated to Trump's campaign, have not commented on Quintenz's statement.The CLARITY Act and Regulatory AuthoritySelig, in a post on X after his nomination, said he would "help the President make the United States the Crypto Capital of the World." A key piece of legislation central to this goal is the CLARITY Act. Passed by the House of Representatives in July and now under consideration in the Senate, the act would clear up a longstanding debate by defining when a cryptocurrency is considered a commodity versus a security. This would give the CFTC the authority to oversee crypto spot markets.Selig is expected to be questioned about that bill, as well as how the CFTC would work with the SEC and oversee markets that allow Americans to bet on the outcome of elections and other events.State of the CommissionThe CFTC is traditionally led by a bipartisan group of five commissioners nominated by the president. The agency currently only has one commissioner, Republican Caroline Pham, who is also serving as its acting chair. Pham has indicated she plans to depart the agency once Trump's nominee for chair is confirmed.

NFL Memo Details Prop Bet Restrictions Amid Widening Gambling Scandals
November 19th, 20255 mins

NFL Memo Details Prop Bet Restrictions Amid Widening Gambling Scandals

Protecting Game IntegrityThe NFL sent a memo to team officials Thursday outlining prop bet restrictions with its betting partners in the wake of federal investigations that have brought criminal charges against members of the NBA and MLB regarding integrity-threatening gambling scandals.The NFL's memo states that the league has worked with state lawmakers, regulators and sports betting partners to limit and, where possible, prohibit prop bets in the NFL. "Our commercial agreements are regularly reviewed and updated to prohibit wagers that are tied to the kind of conduct that was identified in recent federal law enforcement activity," the memo reads, via NFL Network's Tom Pelissero, "and we maintain regular contact with state officials to ensure that these wagers are appropriately addressed."Prohibited Wager CategoriesAlso in the memo are prohibited wager categories, which the league describes as such:Inherently Objectionable: Markets or bets that are inherently or designed to be derogatory or inflammatory, or otherwise based on subject matter against public policy (e.g., player injuries, fan safety, misconduct, etc.).Officiating-Related: Markets or bets based on officials or officiating (e.g., officiating assignments, penalties, replays, etc.).Determinable by One Person in One Play: Based on outcomes 100% determinable by one person in one play (e.g., kicker to miss FG attempt, QB’s first pass to be incomplete, etc.).Pre-Determined: Pre-determined outcomes directly related to on-field competition (e.g., Will QB start this week? Will team’s first play from scrimmage be a run or pass, etc.).ESPN's David Purdum reported Thursday, however, that no significant changes to current NFL betting menus are expected at sportsbooks. In other words, the prop bets outlined above mostly pertain to types of wagers the league has already made clear it doesn't want sportsbooks to offer, according to Purdum.Reaction from the NCAANCAA president Charlie Baker chimed in on the NFL's memo Thursday evening. "Very glad to see the NFL take this issue on," he wrote on X. "The NCAA has been working to put an end [to] prop bets for two years. They’re integrity risks and lead to abusive behavior toward student-athletes."NFL's Recent Enforcement of its Gambling PolicyNotably, the NFL suspended five players for gambling violations in 2023, including Detroit Lions wide receiver Jameson Williams. Williams was one of four Lions players punished, although he was the only one not to be released in the aftermath of the off-field drama. Williams wound up serving a six-game suspension for betting on college football games while at the Lions' facility.Fellow NFL wideout Calvin Ridley, then with the Atlanta Falcons, was suspended the entire 2022 season for betting on NFL games in 2021. It was reported that Ridley placed wagers on a series of parlays that included other sports but also Falcons games. He was playing for the Falcons that season but was away from the team when he reportedly bet on games.The Timing of Thursday's MemoThe NFL's memo Thursday arrives less than a month after NBA guard Terry Rozier was among more than 30 people arrested by the FBI as part of two separate illegal gambling-related cases. He was charged with conspiracy to commit wire fraud and money laundering. Prior to a March 2023 game in which he played just over nine minutes for the Charlotte Hornets, Rozier is alleged to have shared inside information about his early exit, allegedly leading to his co-conspirator bettors wagering more than $200,000 on his under prop bets, according to investigators.In the last week, Cleveland Guardians pitchers Luis Ortiz and Emmanuel Clase have been arrested. They've been indicted on several charges, such as conspiracy to influence sporting contests by bribery and money laundering conspiracy. The Department of Justice alleges the pitchers intentionally threw outside the zone so their co-conspirators could win prop bets. Clase, who prosecutors say had been conspiring since May 2023, has helped his co-conspirators make at least $400,000 from the scheme, according to the DOJ.

Big Ten's $2.4B Investment Deal Stalls Without Michigan, USC Approval
November 19th, 20253 mins

Big Ten's $2.4B Investment Deal Stalls Without Michigan, USC Approval

Investment Deal Hits RoadblockWithout the blessing from both Michigan and Southern California, a proposed $2.4 billion private investment deal to acquire 10% of the Big Ten Conference will remain on hold, Front Office Sports reported this week.UC Investments, the pension fund for the 10-school University of California system, does not want to go through with the massive investment deal unless "the unity of the 18 Big Ten university members," occurs.Concerns from UniversitiesWhile Michigan and USC want more information on how the partnership would work, UC Investments also has concerns that not all Big Ten member schools are up to speed with the details involved equity stake purchase of the conference, and the benefits for each member school.Big Ten member UCLA is one of the schools whose employees have their retirement funds run by UC Investments. Cal, referred to in the system as UC Berkeley, is another of those institutions and is a member of the ACC.Details of the ProposalThe $2.4 billion investment that would bolster both the Big Ten and the pension fund of UC employees, would create a spinoff of the Big Ten called Big Ten Enterprises, according to the report. Big Ten schools would be required to agree to a contract that guarantees the partnership through 2046."I think it's really important for all of us to take a deep breath and figure out how this is going to impact the university," Michigan regent Jordan Acker told Front Office Sports. "I think there's no rush in this deal. There should be no rush on any deal that affects the long-term success and integrity of the University of Michigan and of the Big Ten Conference."By slowing the deal from moving forward, UC Investments hopes more conference schools can get up to speed on the intricacies of the proposed partnership."We also recognize that some member universities need more time to assess the benefits of their participation," UC Investments said in a statement to FOS.--Field Level Media

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At GambleSpot, our team of seasoned experts brings you a wealth of industry knowledge accumulated over a decade, with a singular focus on delivering accurate and reliable information about regulated and responsible gambling in the United States. Rest assured; we painstakingly curate our offerings to feature only reputable operators, ensuring a secure and equitable gambling environment.

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Discover the best legal land-based casinos across the U.S. on GambleSpot. We provide comprehensive details about licensed casinos, ensuring you enjoy safe and regulated gaming experiences. From luxurious resorts to smaller local establishments, explore the amenities, games, and unique features each legal casino offers. Stay informed about state regulations and find the top-rated legal casinos near you for an unforgettable experience.

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Hard Rock Casino Cincinnati
Hard Rock Casino Cincinnati is an exciting casino in the heart of Ohio. It features five top-notch restaurants, a stocked liquor store, and more than 100,000 square feet of gaming floor. At Hard Rock Casino, you can find popular games like slots, video poker, blackjack, craps, roulette, let it ride, four card poker, three card poker, pai gow poker, Mississippi stud, poker, and even a sports book! Valet parking is free for Player's Club members, while non-members pay $15 to get their vehicles secure. Fortunately, there is no overnight RV parking.
1000 Broadway Street, Cincinnati, OH 45202
Phone Number: (513) 250-3150
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JACK Thistledown Racino
JACK Thistledown Racino is situated in North Randall, Ohio, offering Ohioans four restaurants and plenty of entertainment with its Video Lottery Terminals and similar slot machines. During the season, the venue also hosts live horse racing, making it a popular destination for locals looking to enjoy the full casino experience. Whether to dine, gamble, or take in a show, JACK Thistledown Racino has something for everyone.
21501 Emery Road, North Randall, OH 44128
Phone Number: (216) 662-8600
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Hollywood Gaming at Dayton Raceway
Hollywood Gaming at Dayton Raceway, located in Dayton, Ohio, offers Video Lottery Terminals which are similar to slots machines. Along with these games, guests can also place bets in the Sportsbook. During the live harness racing season visitors of Hollywood Gaming at Dayton Raceway can experience the exciting atmosphere of the track. Whether playing the slots or placing bets, this casino is the perfect place for all your gaming needs.
777 Hollywood Blvd, Dayton, OH 45414
Phone Number: (937) 329-9828
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Belterra Park Gaming & Entertainment Center
Belterra Park Gaming and Entertainment Center is located in Cincinnati, Ohio and offers a variety of entertainment activities. The center includes Electronic Gaming Machines and Sports Book, as well as live racing seasonally. It also features many different dining and entertainment options. Whether you're in town for the live racing season or just out for some fun, Belterra Park Gaming and Entertainment Center is sure to be a great place for you to visit.
6301 Kellogg Rd, Cincinnati, OH 45230
Phone Number: (513) 232-8000
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Hollywood Casino Toledo
Hollywood Casino Toledo features 125,000 square feet of gaming excitement. There are four restaurants offering a variety of tasty choices. Slots, video poker, blackjack, craps, roulette, mini-baccarat, poker, Pai Gow poker, Texas Hold'Em, Three Card Poker, Mississippi Stud, and a sportsbook provide plenty of entertainment for Ohioans and those from other states. Head to Toledo for a night out at Hollywood Casino Toledo and never have a dull moment.
1968 Miami Street, Toledo, OH 43605
Phone Number: (419) 661-5200
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Hollywood Casino Columbus
Hollywood Casino Columbus is situated in the heart of Columbus, Ohio. Boasting a vast 120,317 square feet casino space, the Hollywood Casino has something for everyone! Enjoy a wide selection of slots, video poker, blackjack, craps, roulette, three card poker, four card poker, Let It Ride, Casino War, Poker, Sic Bo, Mini-Baccarat, Big 6 Wheel, Pai Gow Poker, Ultimate Texas Hold 'Em, Mississippi Stud, and a Sportsbook. With its 65 tables and 1,900 machines, the Hollywood Casino experience is truly unforgettable. The venue also provides five restaurants and free valet parking for an extra special touch. So, if you're looking for an exhilarating experience in Columbus, Ohio, the Hollywood Casino Columbus could be the ideal place for you!
200 Georgesville Road, Columbus, OH 43228
Phone Number: (614) 308-3333
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Hollywood Gaming at Mahoning Valley Race Course
Hollywood Gaming at Mahoning Valley Race Course is a popular entertainment destination in Youngstown, Ohio. Featuring only electronic gaming machines, plus a full season of exciting live racing, this is an arcade lover's haven! You won't find any table games or slots here, but instead, you can experience the thrill of electronic gaming, make bets on horse races, and even purchase tradable credits that can be redeemed for winnings. There's something for every type of gamer here, so come join the fun!
655 North Canfield Niles Road, Youngstown, OH 44515
Phone Number: (877) 788-3777
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JACK Cleveland Casino
JACK Cleveland Casino is located in Cleveland, Ohio and features 96,000 square feet of gaming space. Toll-free (855) 746-3777, JACK Cleveland Casino offers an array of exciting games including slots, video poker, blackjack, craps, roulette, poker, baccarat, pai gow poker, let it ride, three card poker, four card poker, and Mississippi stud. For a unique gaming experience, customers can find "stadium style" table games here. JACK Cleveland Casino also offers four restaurants, each offering discounts for Players Club members. Rates for parking vary based on the day of the week and the level of play. Buffet prices range from $26 with excellent discounts on Fridays and Saturdays. The buffet is closed Mondays and Tuesdays.
100 Public Square, Cleveland, OH 44113
Phone Number: (216) 297-4777
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MGM Northfield Park
MGM Northfield Park is a fun and entertaining casino located in Northfield, Ohio. Offering free admission and a variety of games, this destination is sure to keep visitors entertained. Games offered include Video Lottery Terminals, Sportsbook and Daily Simulcast. During the live racing season, visitors can enjoy the horse races. Come and have some fun at MGM Northfield Park and see why it's a popular Ohio destination!
10777 Northfield Rd, Northfield, OH 44067
Phone Number: (330) 908-7625
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Scioto Downs Racino
Scioto Downs Racino is located in Columbus, Ohio, offering free or $2 admission on Thursdays through Saturdays. Games include a variety of Video Lottery Terminals (VLTs) - similar to slot machines. Live Racing is also offered seasonally, and simulcasting is available daily. Experienced players and newcomers alike are drawn to Scioto Downs Racino for its exciting gaming options.
6000 S High Street, Columbus, OH 43207
Phone Number: (614) 295-4700
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Miami Valley Gaming
Miami Valley Gaming, located in Lebanon, Ohio, offers gaming experiences for everyone. With three restaurants, a free admission, and a wide selection of Video Lottery Terminals and sports betting, you can enjoy a fun day of gambling at this establishment. For an added bonus, the casino offers live harness racing seasonally and daily simulcasting. The variety of games makes it a perfect getaway for any Ohioak!
6000 SR 63, Lebanon, OH 45036
Phone Number: (513) 934-7070

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