Fans of pro and college sports can make wagers using certain platforms. These platforms, such as Draft Kings and Polymarket, operate by using a different approach than traditional gambling. A state law, Penal Code 47, bans most forms of traditional gambling. However, these platforms claim to be regulated under a federal framework.
The companies behind these platforms assert that they are not subject to state rules. One company stated that it is regulated by the Commodity Futures Trading Commission.
Further information on how these platforms operate is available, including a statement from one of the companies involved.
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