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Alongside the recovery of NZ$11.5 million, the DIA also took action against the class 4 gambling society One Foundation.

One Foundation’s operating licence was suspended for six days after the DIA identified accounting failures relating to gambling proceeds, as well as a failure to surrender a licence for one of its pokies venues when required by law.

The DIA also issued new financial guidance for class 4 operators, with the aim of providing greater clarity on their accounting requirements and an explanation of their obligations.

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But as mentioned earlier, this is not the first time Grant has been caught in a similar legal tangle with Star Casino, which accused the man of using a strategy known as “edge sorting,” which is essentially discovering an imperfection in the make of the cards used in a table game.

By leaning into that imperfection, players may then exploit the knowledge and tip the house edge in their favor. Most casinos and courts around the world consider this to be cheating.

However, the judgment in that specific case against Star Casino ruled that Grant was a self-professed advantage player, and that a casino where the staff was competent and the games were operated correctly had nothing to worry about. 

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The news comes as prediction market operators continue to form alliances with major media outlets. These deals allow news outlets to embed event contract data into their reporting and offer prediction platforms more visibility to investors and news audiences. 

Polymarket has developed its media presence elsewhere. In January, it signed a deal with Dow Jones to provide its prediction market data to several of the publisher’s consumer platforms. The deal covers publications including The Wall Street Journal, Barron’s, MarketWatch and Investor’s Business Daily.

Prediction markets have become more and more intertwined with sports and entertainment businesses. Polymarket has agreements with Major League Baseball and Sportsradar. Sportsradar provides data and services for more than 20 sports leagues and competitions.