States Need New Toolkits to Address Gaming's Technology Revolution
Sports and technology attorney Samir Patel was cited in a GGB News article examining the gap between technological advancements in the gaming industry and the policy and legislation needed to respond to them. The article contended that gaming policymakers are well behind the curve when it comes to addressing challenges posed by the digital divide. Mr. Patel described several issues that are contributing to regulatory and licensing problems, including the use of advanced tools such as Integrated Development Environments (IDEs) and Large Language Models (LLMs) to rapidly develop customized arbitrage betting software; events-based contracts and trading mechanisms tied to sports outcomes offered by blockchain-based prediction markets and investment platforms; and the reliance on offshore, unregulated gambling platforms to evade U.S. oversight. He also noted that entrepreneurs generally hold the view that regulatory agencies and state attorneys general lack the enforcement capacity and technological understanding to create meaningful deterrents for bad actors.
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