The American Gaming Association estimates $40bn will be wagered on the NFL using prediction markets this year.
Governor Ned Lamont and Connecticut Consumer Protection Commissioner Bryan T. Cafferelli announced that the State of Connecticut is taking a series of actions aimed at curbing illegal prediction market operations in Connecticut.
This week, the Connecticut Department of Consumer Protection (DCP) issued nine cease-and-desist orders to companies illegally operating prediction markets in the state. Additionally, DCP issued nearly 30 subpoenas to gaming service provider license holders and Connecticut media outlets. Businesses that received subpoenas are not under investigation by the department but may possess information pertinent to the state’s investigation into illegal prediction market operations in Connecticut.
“Connecticut has been at the forefront of this issue, leading the way in protecting consumers—including young people, student athletes, and those suffering from gambling addiction—from unregulated gambling markets, which put your money and information at risk,” Governor Lamont said. “Prediction markets have branded themselves as legal and safe, but the reality is they are not adhering to Connecticut’s consumer protection standards and gaming laws, and they are not being truthful when they tell consumers that their activities are legal. When we legalised sports wagering in 2021, the goal was to create a safe, responsibly regulated market for Connecticut consumers, not to open a free-for-all.”
“Our laws are clear: sports betting may only be offered by legal, licensed sportsbooks that adhere to our regulations and technical standards,” Commissioner Cafferelli said. “We are, first and foremost a consumer protection agency, and we will continue to do everything we can to protect all Connecticut consumers from misleading business practices that compromise their health and safety, personal information and hard-earned money.”
The American Gaming Association estimates $40bn will be wagered on the NFL using prediction markets this year. On the first day of the 2026 college football season last week, one prediction market reported nearly $250m in trading volume on college football alone.
“Gambling is a form of entertainment for many, but it is important to remember that all gambling carries risk, and for some, that risk can become a serious problem,” Nancy Navarretta, commissioner of the Connecticut Department of Mental Health and Addiction Services (DMHAS), said. “DMHAS offers a statewide network of prevention, treatment, and recovery services for individuals and families affected by gambling harm. Anyone concerned about their own gambling, or worried about someone they love, can call the Problem Gambling Helpline at 1-888-789-7777 and connect with support.”
“Connecticut has worked hard to establish a strong regulatory framework that includes meaningful consumer protections, safeguards for young people, responsible gambling requirements and access to resources for those who may experience harm,” Diana Goode, executive director of the Connecticut Council on Problem Gambling, said. “We commend Governor Lamont, Commissioner Cafferelli and the Department of Consumer Protection for their continued efforts to ensure that organizations offering gambling opportunities to Connecticut residents are held to those standards. When organizations operate outside that framework, critical protections can be lost. We support the state’s efforts, including seeking judicial remedies, when necessary, to preserve the integrity of Connecticut’s regulatory system and ensure that innovation or new terminology is never used to circumvent the protections Connecticut residents deserve.”
A sports prediction market is a peer-to-peer exchange where users buy and sell “yes” or “no” contracts on the outcome of sporting events. Prediction markets offering sports wagers in Connecticut are operating in violation of Connecticut gaming and unfair trade practices laws. They are known to offer and accept wagers from prohibited bettors, including people under the legal betting age of 21 and who appear on the state’s voluntary self-exclusion list. They also offer wagers on Connecticut collegiate sports, which is expressly prohibited under Connecticut law to protect college athletes from influence and harassment.
DCP issued cease-and-desist orders to nine prediction markets known to be operating illegally in Connecticut, including:
– Polymarket
– Coinbase
– Crypto.com
– Robinhood
– ProphetX
– Novig
– Webull
– Gemini
– Underdog Predict