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ACMA’s investigation revealed multiple compliance breaches, primarily concerning account management and marketing controls.
The regulator noted that several inactive accounts remained open long after users requested exclusion.
Specifically, 156 out of 229 accounts with no pending bets remained linked to BetStop users seven days after self-exclusion registration. Some accounts were non-compliant for periods extending up to 200 days.
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“The Court should refuse the relief requested by … because it is manifestly contrary to the public policy of the United States based on the Debtors’ well-documented and pervasive bad faith conduct,” the petition said. “The Debtors are using the Israeli Action—a limited action which lacks many of the core characteristics of a collective insolvency proceeding—as a strategic tool to evade responsibility for their deceptive conduct.”
On Aug. 26, Tel Aviv District Court Judge Iris Lushi-Abudi rejected Papaya’s motion to pay down the Skillz judgment over 6.5 years with profits from its continuing operations.
Yaron Elhawi, an attorney based in Tel Aviv representing Skillz, said in court filings that Papaya has not proposed a reformulated debt arrangement, nor suggested how it intends to treat Skillz’s debt.
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Given the rise of prediction markets, this week arguably represents the most frenzied campaign since the historic PASPA decision in 2018. Buttressed by massive capital injection from substantial funding rounds, operators have spent handsomely on celebrity endorsements. Over the last week, ads featuring LeBron James, Sydney Sweeney, Marshawn Lynch and Jeremy Piven have showered the airwaves. Even Pete Sampras, who disappeared from the public spotlight for the better part of two decades, resurfaced in a US Open spot for Kalshi.
While Polymarket pulled off a coup with the signings of James, Eli Manning and Derek Jeter, a Novig ad featuring Sweeney arguably received as much fanfare. Sweeney, an Emmy Award-nominated actress known for her role in HBO’s Euphoria series, stars in the spot titled “Just Sports.” As of Friday afternoon, the Novig post on social media platform X received at least nine million views.
Throughout the ad, Novig throws shade on its rivals for offering niche markets on events such as the timeframe for when traders believe that Venezuelan President Nicolás Maduro will be removed from office. Unlike operators such as Kalshi and Polymarket, Novig has opted to limit its offerings to purely sports. “No betting on wars, or deaths…or politics,” Sweeney mused.
