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“We expect non-sports categories such as economics, politics, crypto, and entertainment to gain share over time,” says the analyst.

Prediction market operators are on legal losing streaks, confirming that Beynon is onto something when he says the regulatory environment is the biggest risk facing the industry.

“We continue to view regulation as the largest risk to prediction markets,” says the analyst. “While industry growth remains robust, adverse legal outcomes could materially impact sports contract availability and long-term adoption.”

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Since joining the Ministry of Finance in 2024, he has been directly involved in implementing Brazil’s betting regulatory framework. His work has focused particularly on monitoring authorised operators, combatting the illegal market and strengthening controls to prevent money laundering and the financing of terrorism, as well as coordinating enforcement actions with other government agencies and private sector stakeholders.

“Fabio’s appointment brings an important South American perspective to the IAGR board of trustees at a time when regulators worldwide are facing similar transnational challenges,” said IAGR President Ben Haden.

“Brazil has undergone an ambitious regulatory transformation in an extraordinarily short period, and his experience at the heart of this process will provide valuable insights to the regulators within our global community.”

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The government of Laos, one of the world’s few remaining one-party communist states, is still chasing more than $5 million from the American businessmen behind a casino venture that descended into a bitter legal battle more than a decade ago.

A US appeals court last week gave Laos another chance to pursue casino entrepreneur John K. Baldwin and his company, Bridge Capital, for the money.

The ruling is the latest twist in a dispute dating to 2012 that has involved allegations of government interference, a failed settlement, and three international arbitration awards.