Prediction markets and sports betting: How this UK exchange is trying to do both in the U.S.

Smarkets, a UK-based exchange, is seeking to operate in the U.S. prediction markets and has submitted applications to operate as a sportsbook in multiple states. The company's dual approach comes as federal regulatory authority over prediction markets remains unsettled. Smarkets currently operates in the UK and Europe offering betting exchanges where users trade positions on event outcomes.

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