Northland analyst Greg Gibas notes that the CFTC issued an advisory letter to designated contract markets recommending prediction markets to utilize official sports data for settling contracts, which the firm views as “a clear positive” for Genius Sports (GENI) as a holder of official sports data rights. The firm, which says this news adds to its confidence in Genius’ ability to participate in the prediction market opportunity, also notes several other isolated recent developments that also give it increased confidence in the opportunity for Genius. Northland keeps an Outperform rating and $12 price target on the shares.
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