The gambling sector faces several regulatory and market developments this week, headlined by Alberta’s online iGaming launch on July 13. Industry attention also focuses on an IRS hearing regarding loss deductions, a new sweepstakes casino restriction in Maine, and ongoing prediction market conflicts.
Regulatory Changes and Market Activity
Alberta will open its regulated digital gambling platform on July 13. The launch introduces a new licensing framework for online operators within the province.Federal authorities will conduct an IRS hearing to examine current regulations on gambling loss deductions. The proceedings will address how existing tax guidelines apply to player winnings and reported losses.
Maine will implement a ban on sweepstakes casinos, changing the legal status of these platforms in the state. At the same time, prediction market operators are facing escalating disputes over settlement procedures and platform transparency.
Information sourced from Gambling Insider.