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In response, DeNault noted that prediction markets regulated on the federal level by the CFTC offer a “safer alternative” than many offshore operators that lack the requisite consumer protections.
“You can go the combative route and ban something that’s federally regulated,” he said. “But what you’ll end up with is a bunch of customers in Texas just going offshore.”
The committee also heard from Brianne Doura-Schawohl, a nationally recognised problem gambling expert. One study cited by Doura-Schawohl found that 52% of Gen Z respondents include sports betting and prediction markets as part of their long-term financial plan.
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This week, Spectrum Gaming released its Evolution-commissioned report, and Playtech has highlighted a number of claims from Black Cube’s investigation that have been corroborated in the report.
When asked his view on what will happen next, Weizer declined to comment, saying: “It’s very interesting. But as I’m sure you can understand, we are not going to answer any questions on litigation.
“We are under legal privilege and confidentiality rules, and we can’t simply take questions on the legal situation. We said what we needed to say following the Spectrum report being released earlier this week. So, that’s all I can say at this point in time.
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According to Nally, approximately 70% of online gambling in Alberta occurred through unregulated operators prior to the July 13 launch, with the remaining 30% flowing through Play Alberta, the province’s sole legal platform at the time.
As of Sept. 17, 31 licensed iGaming operators are officially live and accepting wagers across the province.
Oxibet is not among the licensed entities. Furthermore, Alberta’s regulatory standards strictly prohibit active commercial athletes like Davies from appearing in gambling advertisements, with narrow exceptions reserved exclusively for responsible gambling public service announcements.