Maryland has become the latest state to warn licensees about offering prediction markets, as it joins a growing list of state regulators.
On Wednesday (November 19), the Maryland Lottery and Gaming Control Commission sent a notification to its licensees regarding the controversial subject.
NEW: Maryland becomes the 7th state to warn licensees about involvement in prediction markets. Per @MDLottery, "any direct or indirect" association with sports event contracts in "any jurisdiction" where such activity is illegal or unauthorized "may" have licensing implications. pic.twitter.com/WxPx4eA5A8
— Daniel Wallach (@WALLACHLEGAL) November 20, 2025
Within the letter, the regulator states its “decision is the final determination of whether gaming is operated legally in the state.” Online gaming, mobile sports, and online fantasy sports competitions are legal in Maryland when offered by operators that are licensed with the commission.
“The Commission has determined that a sporting event contract offered on a designated contract market (“DCM”) without a valid Maryland sports wagering license is an “illegal activity” in our state because this is unlawful sports wagering.”
The regulator continued to confirm that ‘illegal activity’ refers to engaging in, operating, offering, or facilitating access to prediction markets on a DCM for gaming contracts styled as ‘sporting event contracts’ without a valid Maryland sports wagering license.
Michigan warns against ‘illegal activity’ in new notice
The Old Line State isn’t the first to issue a notice of some kind to operators, as places like Ohio, Michigan, Nevada, Arizona, Massachusetts, and Illinois have sent similar warnings.
This comes at a time when many are questioning the legality of prediction markets, while the industry continues to grow. Although some state regulators are showing opposition, this doesn’t appear to be stopping companies from entering the market.
It has been announced this week, via the CEO, that the digital sportsbook Fanatics will be entering the predictions market in partnership with Crypto.com. It’s an area which is seemingly becoming more mainstream, with FanDuel having also recently announced their intentions to join.
The company will be launching FanDuel Predicts in December, with the soon-to-be app being launched through a partnership with derivatives marketplace CME Group.
Featured Image: Credit to Famartin on Wikimedia Commons, CC4.0 license
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