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*FOR** IMMEDIATE RELEASE
*Contact: [email protected]

*Michigan Gaming Control Board opens investigations into unlicensed sports prediction markets*

DETROIT, April 11, 2025 — The Michigan Gaming Control Board (MGCB) has initiated investigations into unlicensed sports prediction markets operating within the state. These platforms, which bypass Michigan’s regulatory framework, have raised significant concerns about consumer protections.

Michigan’s investigations align with similar actions already taken by other state regulatory bodies and focus on how this form of unlicensed sports betting may jeopardize the integrity of Michigan’s legal sports betting system.

“We take consumer protection very seriously and are committed to ensuring that Michigan residents are engaging with safe and legal sports betting options,” said *Henry Williams, Executive Director of the MGCB*. “Unlicensed entities not only pose a risk to consumers but also undercut the integrity and revenue-generating potential of the state’s regulated sports betting industry. We are actively investigating these practices and will pursue appropriate measures to protect Michigan bettors.”

The unlicensed platforms offer what they describe as innovative financial products that allow users to trade their predictions on the outcomes of sports events. By sidestepping the regulatory protections of Michigan’s legal sports betting market, these platforms pose a serious risk to consumers. They create potential confusion among bettors and blur the line between sports betting as entertainment and sports betting as a financial trading vehicle.

Beyond concerns over lost tax revenue, these unregulated platforms may expose Michigan residents to various risks, including fraud, identity theft, and inadequate data security. Unlike licensed sportsbooks, which are required to adhere to strict regulations including age verification, Know Your Customer (KYC) protocols, anti-money laundering (AML) measures, self-exclusion policies, and integrity monitoring, unlicensed entities may operate without these safeguards. As a result, consumers can be left vulnerable to financial harm.

The MGCB is also concerned that promoting sports betting as an investment opportunity directly contradicts Michigan’s established responsible gaming principles.

“Sports betting is meant to be a form of entertainment, not a financial investment,” *Williams *added. “By framing sports contracts as investment vehicles, these platforms risk confusing consumers and undermining the state’s commitment to responsible gaming. Moreover, many of these unlicensed platforms are often accessible to individuals as young as 18, in stark contrast to Michigan’s 21+ age requirement for legal sports betting.”

The MGCB will continue to investigate and take all necessary steps as deemed appropriate.

  "
Gambling in any form is for entertainment purposes only. If you or someone you know may have a gambling problem, contact the National Problem Gambling Helpline at "*"1-800-GAMBLER"*", text 800GAM, or visit ""_www.1800gamblerchat.org [ [link removed] ]_"". Help is available 24/7 and is free and confidential. Michigan citizens can also visit the ""_Responsible Gaming page of the MGCB website [ [link removed] ]_"" for information on self-exclusion programs including the Disassociated Persons List and the Internet Gaming and Sports Betting Responsible Gaming Database, and ""_DontRegretTheBet.org [ [link removed] ]_"" for additional tools to game responsibly.

" "The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the state of Michigan. Learn more at ""_Michigan.gov/MGCB [ [link removed] ]_""."

 


* 2025.04.11-PR-Investigations_Into_Unlicensed_Sports_Prediction_Markets.pdf [ [link removed] ]
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This email was sent to [email protected] using GovDelivery Communications Cloud on behalf of: Michigan Gaming Control Board · 3062 West Grand Boulevard, Suite L-700 · Detroit, MI 48202-6062 · (313) 456-4100   [ [link removed] ]