Nugget N Nonsense

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In an April interview with iGB, Sher reflected on the challenges of regulatory uncertainty in Mexico

“Right now we are working based on a framework of laws which you cannot even call regulation, from 1947,” Sher said. “So it’s very hard to work long-term and to give long-term commitments. While the future is unclear in terms of regulation, we saw what happened in other countries in LatAm when they changed the regulation every other month.

“In Mexico, I think we are stable, we know how to deal with this market. Of course, we will be very happy if in the future, a proper regulatory framework will be introduced and not the way that we are working right now.”  

About Nugget N Nonsense

With odds of 17% on Kalshi’s futures market, the Rams are the only NFL team to open the season with double-digit odds. The probability translates to +488 in American odds, a figure that is regarded as comparatively low for a Super Bowl favourite. But history is not on the Rams’ side – all of the last 25 NFL teams to open a season with futures odds of +500 or lower have failed to win the Super Bowl, according to Yahoo Sports.

In May, the NFL sent a letter to the US Commodity Futures Trading Commission with a list of certain event contracts it deemed objectionable. By July, the league doubled down with public comments to the CFTC after the agency issued draft regulations for the contracts. The NFL cited props on player injuries, penalty totals and missed field goals as those that fit the bill. Goodell, however, conceded that the NFL has held discussions regarding prediction markets as public policy evolves.

Two other leagues, Major League Baseball and the National Hockey League, have each signed a Memorandum of Understanding with the CFTC that allows participating teams to partner with the operators.

About Nugget N Nonsense

A similar scenario is playing out on the back of the MLB index introduction. Both LeagueShares and RexShares filed plans for ETFs tied to the FutureSports MLB indexes.

If approved, the funds would hold baskets of the CME-traded derivatives. LeagueShares went a step further by adding a filing for 2x leveraged MLB futures funds.

“Of course there’s already a filing for daily leveraged futures baseball ETFs — which are basically the equivalent of a corked bat with eight holes drilled in the handle that’s been dipped in pine tar,” wrote Ben Johnson, head of client solutions at Morningstar, on X.