Totem

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Christofidou also floated the idea of issuing GMI recipients with a special card for in-person verification at gambling venues, but several MPs warned this could stigmatise welfare recipients.

Current gambling legislation restricts participation for minors and those classified as “financially vulnerable”. However, GMI recipients are not yet formally classified as such for the purpose of these regulations.

The NBA has operated a online self-exclusion scheme since 2024. It requires users to register with a mobile number, email address and ID. Since around 80% of gambling in Cyprus happens online, this route offers a far easier way to identify and exclude claimants than monitoring anonymous betting at physical outlets.

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However, some media industry observers have questioned whether trading activity can reliably stand in for broader public opinion. There are also concerns among critics over the growing links between news organizations and prediction platforms. 

At the same time, prediction market operators are facing regulatory tussles in the US. State regulators are moving to shut down the firms under gambling laws. The companies say their contracts should be regulated at the federal level as derivatives. 

However, the sector has grown substantially despite such disputes. Bernstein predicted in April that annual prediction market volume could reach $1 trillion by 2030. The research estimated volume was around $51 billion in 2025 and could grow to around $240 billion in 2026. 

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He was among 22 people arrested in coordinated raids by the FBI April 29 following a long-running investigation dubbed “Operation Porterhouse Parlay,” which allegedly uncovered links between illegal gambling operations and restaurant networks spanning Northwest Indiana and suburban Chicago.

Grasso claimed he was unaware of the donations before being approached by Patch. He added that his campaign had reported them to the Board of Elections and would be returning them.

It was not the first time Grasso had returned campaign money from Rovito.