Here’s a re-written version of your press release while retaining its professional tone and detail:
Michigan Gaming Control Board Investigates Unlicensed Sports Prediction Platforms
11 April 2025
The Michigan Gaming Control Board (MGCB) has launched an investigation into unlicensed sports prediction markets operating within the state. These platforms, which function outside Michigan’s established regulatory framework, have raised serious concerns regarding consumer protection and market integrity.
This investigation mirrors actions taken by regulatory bodies in other states and aims to assess how such unlicensed activities could undermine Michigan’s legal and regulated sports betting ecosystem.
“We are deeply committed to safeguarding Michigan residents and ensuring they have access to secure, legal sports betting options,” stated MGCB Executive Director Henry Williams. “Unlicensed platforms not only threaten consumer safety but also compromise the integrity and revenue potential of Michigan’s regulated sports betting industry. Our team is actively investigating these violations and will take decisive action to protect Michigan’s bettors.”
These unlicensed platforms often promote themselves as providers of innovative financial products, enabling users to trade predictions on sports outcomes. However, by bypassing Michigan’s regulatory safeguards, they introduce substantial risks. Such platforms blur the lines between sports betting as a form of entertainment and as a financial trading instrument, potentially confusing consumers and creating uncertainty.
The MGCB has highlighted a number of risks posed by these platforms, including exposure to fraud, identity theft, and inadequate data protection measures. Unlike licensed sportsbooks, which are bound by stringent requirements like age verification, Know Your Customer (KYC) protocols, anti-money laundering (AML) practices, self-exclusion options, and integrity monitoring, unlicensed operators may neglect these critical safeguards. This leaves consumers vulnerable to significant financial harm.
Of additional concern is the framing of sports betting as a financial investment, which contradicts Michigan’s commitment to responsible gaming principles. “Sports betting is meant to remain a form of entertainment, not an investment vehicle,” Williams emphasized. “By marketing sports contracts as investments, these platforms risk misleading consumers and eroding the foundation of responsible gaming in Michigan. Furthermore, many of these entities are accessible to individuals as young as 18, which starkly contrasts with the legal age of 21 for regulated sports betting in the state.”
The MGCB will continue its investigation and implement appropriate measures to address these issues, ensuring that Michigan residents are protected from the risks posed by unregulated platforms.
