Trump-Affiliated Legal Expert Seeks to Debut Prediction Markets Online Service
In the world of sports and stock market prediction, a new player has emerged in the form of RSBIX, a platform that allows users to make predictions on sports events. Founded by Jeff Ifrah, a prominent iGaming attorney, RSBIX has been active in the sports events market since 2018.
RSBIX made headlines in 2020 when it attempted to self-certify and launch NFL prediction markets through ErisX, a derivatives exchange and clearinghouse. However, the venture was later sold, and the focus shifted elsewhere.
One significant development for RSBIX came in the form of Daniel Negranu, a poker great, being appointed as the platform's brand ambassador. This move was aimed at increasing its visibility and credibility within the sports and gambling community.
Meanwhile, in the realm of regulation, Brian Quintenz, a CFTC Commissioner, has been nominated by President Trump to be the next head of the Commodity Futures Trading Commission (CFTC). Quintenz has been vocal about allowing the CFTC to regulate stock market event contracts, a move that could potentially impact platforms like RSBIX.
However, Quintenz's appointment has been long delayed, and there have been allegations of influence on the CFTC's lack of oversight. Last week, Quintenz released private messages with the President of New York crypto exchange giant Gemini, claiming the exec has blocked his CFTC appointment over a prior beef.
Interestingly, President Trump has been a client of Ifrah's legal firm, Ifrah Law, on several occasions. This connection, along with Quintenz's position on the board of prediction market frontrunner Kalshi, has raised questions about potential conflicts of interest.
RSBIX's partnership is with Matchbook, a UK-licensed betting exchange owned by Zeljko Ranogajec's offshore betting giant Triplebet. The partnership is described as a close collaboration with stakeholders across multiple sectors, but the identities of these stakeholders remain unknown.
The application for RSBIX was made to the federal CFTC for designation as a Designated Contracts Market. The stakeholders involved in this partnership but not mentioned in current reporting might include internal teams, subcontractors, regulators, or smaller investors typically behind the scenes.
In addition to his work with RSBIX, Jeff Ifrah recently launched NexusOne Consulting, a government relations firm that aims to help AI and crypto firms "shape US policy." This move underscores Ifrah's commitment to navigating the complex regulatory landscape in these rapidly evolving stock market industries.
The story of RSBIX and its connections to key figures in the sports, finance, and political worlds continues to unfold, offering a fascinating glimpse into the intersection of these spheres. As the platform moves forward, it will be interesting to see how it navigates the regulatory landscape and what impact it may have on the world of sports prediction markets.
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