Two industry leaders urged regulators to treat sports betting as a financial instrument rather than gambling during a panel at Consensus Miami 2026. Novig CEO Jacob Fortinsky outlined plans to expand nationwide under a federal framework this summer. Adam Mastrelli of 57 Maiden shared his experience of being banned from major sportsbooks for successful betting.
Speaking Thursday in Miami Beach, Fortinsky described the current sportsbook model as flawed because it limits or bans winning customers. He said sports event contracts should instead be viewed as binary financial products and noted that the global market represents a $2 trillion asset class dominated by legacy operators. Fortinsky added that an earlier state-level effort in Colorado showed regulators prioritize tax revenue over consumer protection or innovation.