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Prophet launches first US regulated sports betting exchange

| By Zak Thomas-Akoo
New Jersey-based Prophet Exchange has become the first peer-to-peer sports betting exchange to go live in the US regulated market following licensing approval from the state regulator, the New Jersey Division of Gaming Enforcement.
betting exchange

Prophet was founded in 2018 by CEO Dean Sisun and COO Jake Benzaquen. Last year, the betting exchange hoped to launch in time for the year’s NFL season through a partnership with Caesar’s Entertainment – but was delayed in achieving that goal.

In 2020 the business lost its GB license over social responsibility failings after failing to integrate with the UK self-exclusion scheme GAMSTOP, which became a mandatory requirement for operators in January of that year.

Prophet will be the only sports betting exchange with a license for a US market. Betfair previously operated a horse racing exchange in the country, but withdrew from the market. Political exchange PredictIt allowed for bets on non-sporting events, but regulators announced last month that the site would be forced to close from 15 February 2023.

[Read full story on iGB North America]

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