Written by :

C Costigan

Published on :

18 April, 2026

Ninth Circuit Signals Skepticism on Prediction Markets’ Bid to Bypass State Gambling Laws
Latest Iran Conflict Betting Markets as Strait of Hormuz Reopens

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Prediction Markets

Two Arrested After 29 Illegal Gambling Machines Seized at Tallahassee Business

Saturday April 18, 2026 (10:25 am EDT)

Two people are behind bars, and a gambling house is shut down after law enforcement seized over two dozen illegal gambling machines from a Tallahassee business.

Auryona Jones, 22, and Brandon Riley, 24, are facing several charges, including possession of a weapon during the commission of a crime, according to arrest documents.

Jones faces most of the charges, and Riley is also charged with being a keeper or employee of a gambling house.

Florida gambling enforcement bills proposed in 2026, such as HB 189 and SB 1580, aimed to modernize regulations by defining "internet gambling" as a third-degree felony and increasing penalties for operating illegal gambling houses. These measures sought to crack down on unauthorized slot machines and strengthen the enforcement authority of the Florida Gaming Control. Both failed to pass ahead of the end of this year's legislative session.

Prediction Markets

Strait of Hormuz Traffic Returns to Normal by End of April Betting Market - Just a 42 Percent Chance

Saturday April 18, 2026 (10:25 am EDT)

Despite some promising confirmations from both Iran's foreign minister and the U.S. President that the Strait of Hormuz is now open to traffic, traders aren't buying the notion that shipping traffic will return to normal by month's end.

In a social media post, U.S. President Donald Trump said Iran announced that the strait “is fully open and ready for full passage.”

Minutes earlier, Iranian Foreign Minister Abbas Araghchi posted on X that the passage for all commercial vessels through the strait “is declared completely open” in line with the ceasefire in Lebanon. He said it would stay open for the remaining period of the ceasefire.

Traders at the prediction market Polymarket were giving the Strait of Hormuz a 42% of returning to normal by the end of April. That is hardly reassuring.

Prediction Markets

Rep. Gabe Vasquez Urges CFTC to Address Gambling Loophole During House Hearing

Saturday April 18, 2026 (10:25 am EDT)

Rep. Gabe Vasquez raises concerns at CFTC hearing: During a House Agriculture Committee hearing on April 16, 2026, U.S. Representative Gabe Vasquez criticized prediction markets, suggesting they resemble sports betting. He urged the Commodity Futures Trading Commission (CFTC) to return focus to its intended purpose of regulating economic risk rather than overseeing what he termed unregulated gambling.

Call for regulatory clarity: Vasquez emphasized that the CFTC was established to manage derivatives markets and questioned how these markets could be distinguished from sports betting. He cited the lack of consumer protections, such as licensing and age verification, asserting the need for stronger regulations in this area to safeguard public interests.

Vasquez’s ongoing advocacy: The Representative has previously highlighted the issue during a December 2025 hearing and has supported various legislative efforts aimed at ensuring accountability and integrity in prediction markets, including measures to protect against insider trading and to address potential corruption.

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