May. 18 at 10:29 PM
$PENN $RSI $DKNG - Sporttrade, which as a sports betting exchange basically introduced the prediction market product to the regulated sports betting market in America, is shuttering its betting exchange in order to — presumably — launch a prediction market.
The announcement was made via X late Friday afternoon, with the firm’s official account noting the closure.
Sporttrade customers in New Jersey — where the company first launched — have until May 25 to withdraw their funds, as the site will go dark that day. Customers in Arizona, Colorado, Iowa, and Virginia have until June 25, with the sites shuttering the following day.
For customers who take no action and have funds in their account, checks will be mailed.
But just because this sports betting window is closing does not mean Sporttrade is leaving the world behind, as the tweet notes people should, “stay tuned for what’s next!”
And what’s next certainly appears to be an entry into the prediction market space.
Source: InGame
