Hi First name,

Thank you for following our progress!

Legislatively, the situation is developing very favorably for our SafeBets.world platform.

1/ I spent this day in the U.S. Senate, where the Senate Commerce Subcommittee on Consumer Protection held a hearing examining the regulation of prediction markets.

Bipartisan lawmakers scrutinized platforms, arguing that “event contracts” act as traditional sportsbooks that circumvent state and tribal gambling laws while exposing minors to predatory advertising.

Key Takeaways:

Bipartisan Scrutiny: Senators expressed deep concerns that platforms—such as Kalshi—are operating without meaningful mandatory consumer protections.
Regulatory Jurisdiction Clash: Lawmakers debated who should police these fast-growing platforms. While prediction market advocates argued that the Commodity Futures Trading Commission (CFTC) provides sufficient federal oversight, critics argued that the CFTC is ill-equipped to address the integrity and manipulation of prediction markets.
Concerns About Youth: Senators cited the rise of predatory gambling marketing and expressed alarm that 18-year-olds can place wagers on these platforms.
Potential for Legislation: Lawmakers signaled an appetite for creating unified federal standards for prediction markets.

You can watch the full hearing or read the witness testimonies on C-SPAN and review statements on the Senate Committee on Commerce, Science, and Transportation press release page.

SafeBets.world is immune to such concerns because it’s not based on a gambling model. Instead, we introduced the positive-sum business model of winning with no risk.

Based on my meetings in the Senate, there are no pending bills that would ban or restrict SafeBets.

2/ At the state level, the recent Minnesota law is a prototype for legislation that may be adopted by other states. It bans our largest competitors while remains inapplicable to us:

With very best wishes,

Alex

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Alex Konanykhin, CEO
SafeBets.world Inc. and
TransparentBusiness Inc.
Linkedin.com/in/konanykhin
Konanykhin.com

1 World Trade Center, 85th Floor
New York, NY 10007

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