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About Fortune Ace
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The historic showdown between the Los Angeles Rams and the San Francisco 49ers will take place at a venue located 7,971 miles from Levi’s Stadium, home of the last meeting between the NFC West rivals. Both teams are based in California, a fertile ground for prediction markets given a sports betting ban in a state with more than 39 million residents. But the Americans in attendance for Thursday night’s matchup (Friday in Melbourne) will not be able to live-trade from their seats.
That is because trading on prediction markets is illegal down under, according to the Australian Securities and Investment Commission, the nation’s regulator on financial services. Last month, in perhaps the ASIC’s strongest warnings yet against the asset class, the commission reiterated that prediction markets are not licensed as financial markets to operate in Australia. Through the guidance, the regulator urged consumers to exercise caution before partaking in certain investments on offshore platforms which have not obtained licensing nationwide.
The advisory could be music to the ears of NFL Commissioner Roger Goodell, whose league has pushed a federal derivatives regulator in the US to enact more rigorous standards to help protect the integrity of professional sports. Ahead of the matchup, Goodell spoke with CNBC from Melbourne.
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The Las Vegas Athletics announced a multi-year partnership with Circa Resort & Casino and Circa Sports on Thursday. The MLB franchise is set to move from Oakland ahead of the 2028 season to a new $2 billion stadium on the Las Vegas Strip.
Circa was named the club’s first Founding Partner and an Official Resort and Sportsbook of the Las Vegas Athletics and Las Vegas Athletics Ballpark.
“Derek Stevens and the Circa team have been great partners to the A’s, supporting the Club in West Sacramento during our time there, and we’re excited to build on that relationship,” said Marc Badain, president of the Athletics. “As we look toward the opening of the A’s ballpark in Las Vegas, having Circa as our first Founding Partner is an important step in bringing our vision for a uniquely Las Vegas experience to life.”
