Laila Mintas, the former CEO of PlayUp US, has been a strong proponent of prediction markets for several months. Now, her startup, 365Prediction, is taking a significant step by applying for federal approval to establish its own event-contract exchange.
Founded in February, 365Prediction aims to operate as a designated contract market (DCM) under the oversight of the Commodity Futures Trading Commission (CFTC). The application details plans for a fully collateralized exchange, which would facilitate trade clearing through its associated clearinghouse, Next Gen Clearing, LLC.
Additionally, the company has announced that it will utilize Eventus’ surveillance technology to monitor trading activities and identify any potential market abuses.
Corporate documents reveal that Mintas is joined on the board by notable figures including sports betting executive Leo Gaspar, Olympic gold medalist Angela Ruggiero, and others such as Gerald Szatvanyi, David Lamb, and Kristy Gale.
Mintas has been vocal about her support for prediction markets and event contracts. In a recent feature by Gambling Insider, she predicted that these markets would eventually eclipse traditional sports betting. She expressed her belief that state-by-state sports betting is diminishing and will primarily be utilized by local casino operators like BetMGM and Caesars, while prediction markets will dominate by 2026.
In her recent comments to the CFTC regarding prediction market regulations, Mintas argued that sports-event contracts should remain federally regulated rather than falling under state gaming laws. She emphasized that these contracts differ fundamentally from traditional betting, as they involve trading contracts among participants instead of wagering against a bookmaker.
During a panel discussion at the NEXT Summit in New York, Mintas reiterated her stance, asserting that sports-event contracts should be categorized as exchange-traded products rather than gambling activities. “Sports event contracts are not betting,” she clarified. “You trade them like a stock exchange. You don’t bet against a house that always wins; you trade on an exchange.”
Furthermore, 365Prediction has partnered with FiscalNote in its venture into political prediction markets. Mintas highlighted that her team launched 365Prediction due to the perceived growth potential in this sector and acknowledged that existing products could be enhanced.
“We didn’t want to sit back and watch the market; we want to engage and capitalize on this opportunity,” Mintas stated. She also noted that current offerings in prediction markets are not yet ideal, and 365Prediction intends to set itself apart through innovative technology and product development.
Mintas is a well-known figure in the prediction market arena, having held prominent roles in sports betting, gaming, and sports data over the past two decades. Her experience includes leadership positions at organizations such as Sportradar, FIFA, and CONCACAF, as well as being the CEO of PlayEngine and Bet.Works, which was acquired by Bally’s in 2020.