New Jersey-based Prophet Exchange has become the first peer-to-peer sports betting exchange to operate in the US regulated market after receiving licensing approval from the state regulator, the New Jersey Division of Gaming Enforcement.
Prophet was founded in 2018 by CEO Dean Sisun and COO Jake Benzaquen.Last year, the betting exchange hoped to start in time for this year’s NFL season Partnership with Caesar’s Entertainment – but was late in reaching that goal.
In 2020, the business lost its GB license, citing social responsibility failures, after failing to integrate with the UK self-exclusion scheme GAMSTOP, which became a mandatory requirement for operators in January of that year.
Prophet will become the only sports betting exchange licensed for the US market. Betfair previously operated a horse racing exchange in the country but has exited the market. He of political exchanges PredictIt used to allow betting on non-sports events, but regulators announced last month that the site would be made compulsory. Closed from February 15, 2023.
