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Helios, a specialist consultant in gambling web traffic, analysed the number of black market websites actively marketing across the 28 markets included in the report, between March and May.

This data was cross referenced with SimilarWeb traffic analysis to confirm the scale of activity. In some markets, the number of illegal sites being actively marketed was much higher than those that have local licences to operate.

This was true of France, Portugal, Netherlands, Germany, Cyprus, Belgium, Spain, among others.

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The research also found profiles of influencers known as tipsters, sports traders and “professional gamblers”. They sell access to groups, predictions, spreadsheets and other products related to betting, while presenting gambling as an income-generating activity.

According to The Intercept, some content even uses expressions like “leaving the CLT [Brazilian labour law]” and “your dream income” to promote this type of activity. There are also screenshots of alleged user earnings and posts that present gambling as a kind of investment.

These professional content creators on Instagram aren’t limited to sports betting. There are niches of creators focused on casino games, like the controversial Fortune Tiger, with a communication strategy similar to that of sports betting.

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The move came shortly after the Senate declined to advance the Digital Asset Market CLARITY Act. The procedural vote on September 15 rejected it with 49-50, not meeting the 60 votes required to move forward. 

The CFTC’s move gives the agency a chance to pursue parts of a crypto market framework under its existing authority, rather than waiting for Congress to resolve the broader legislative debate. 

CFTC Chairman Michael Selig signaled that possibility back in August. The agency was considering how its existing powers could be used to create a dedicated market structure for digital assets that are standard, he said.