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In May, the NFL sent a letter to the US Commodity Futures Trading Commission with a list of certain event contracts it deemed objectionable. By July, the league doubled down with public comments to the CFTC after the agency issued draft regulations for the contracts. The NFL cited props on player injuries, penalty totals and missed field goals as those that fit the bill. Goodell, however, conceded that the NFL has held discussions regarding prediction markets as public policy evolves.
Two other leagues, Major League Baseball and the National Hockey League, have each signed a Memorandum of Understanding with the CFTC that allows participating teams to partner with the operators.
“We don’t think we have to be first in this, we feel like we’re going to be right,” Goodell said. “The best thing to do is be patient and make sure you keep the integrity of the game number one.”
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When Spain captain Rodri lifted the Fifa World Cup trophy at MetLife Stadium in New Jersey in July, a nation celebrated its team’s return to the summit of world football. Across five weeks and eight matches, Spain had proved itself the best team on the planet, overcoming its strongest rivals to claim the trophy for a second time.
As Spain celebrated the successful end of their campaign, Kambi was reflecting on a significant achievement of its own. For the sports betting technology provider, the tournament represented a major technological milestone: its first World Cup traded entirely by AI.
Across 104 matches and more than 100 million bets, AI handled every stage of the pricing lifecycle – from ingesting data and creating the offering to managing liabilities and settling bets. The platform recorded zero downtime, delivered an operator trading margin of 18% and, during the final alone, processed more than one million unique bet combinations.
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For reference, Konstakis is no stranger to OpenBet’s business. He has been involved with the business for a while, serving as its president. In this role, he has been closely involved in “driving the operational and commercial execution of the business and shaping its strategic priorities.”
In his new role, Konstakis will be responsible not only for OpenBet’s strategy, but also for its day-to-day business, growth initiatives, and tech priorities. At the same time, he will be tasked with “raising the bar” in how OpenBet serves its clients.
OpenBet emphasized that this change comes at a strong moment for the company and follows its incredibly successful delivery for customers through the World Cup. Throughout the tournament, OpenBet processed 175 million bets totaling $3 billion.