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BetMGM CEO Criticizes CFTC Casino Rule Changes
BetMGM CEO Adam Greenblatt criticized the CFTC's recent rule changes, stating that they have not removed the risk from prediction markets. He expects the Supreme Court to side with the states. BetMGM reported a net revenue of $710 million in the third quarter, up 7% from a year earlier, and an adjusted EBITDA of $86 million, up 112%. The company is reducing investment in certain lower-return markets and putting more into iGaming.