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SEC Files, Settles Litigation Against Nevada Sports Betting Funds

SEC books Home / Legal Developments / SEC Files, Settles Litigation Against Nevada Sports Betting Funds SEC Files, Settles Litigation Against Nevada Sports Betting Funds Dustin Gouker , Sep 10, 2018 11:15 PDT @dustingouker The Securities and Exchange Commission filed litigation in US District Court in Nevada against a pair of “entity wagering” funds that are a part of the Nevada sports betting industry, the SEC announced on Monday. The cases were subsequently settled and closed as part of an agreement between the SEC and the two funds. The complaints come nearly two years after the SEC initially started investigating the funds , which pooled money on behalf of a group of bettors and placed wagers, not unlike a mutual fund for sports wagering. Any profits from wagers are split among the investors. Nevada  legalized such funds in 2015 , and the first launched in 2016.

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