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What is Black Horse?
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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Parliament is now considering two competing approaches to online gambling. But neither has produced a licensing framework.
A private members’ bill, 2026/009, was put forward on 20 January by 23 deputies and referred to the General Legislation Committee on 29 January. It would amend the 1974 decree-law to prohibit all online gambling and require internet and payment providers to block it.
MP Yasser Gourari, one of the deputies promoting the measure, told Diwan FM that the bill provides for fines of MAD10,000 to MAD500,000 and prison terms of one to five years. Penalties rise where there is recidivism, involvement of minors or suspicion of money laundering.
How to play Black Horse
However the report confirms that Spectrum did not believe Evolution had engaged in any illegal practices.
iGB is publishing the full 69-page report, which is accessible to registered users of the New Jersey court system, below for anyone to read.
A news analysis outlining the report’s most prominent points will follow.
