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About The Great Banker
A year later he said the draft had been completely revised to bring it into line with international standards on sports betting manipulation and money laundering.
The text has not been published. It is not known whether it would allow private operators to be licensed or simply modernise Promosport’s monopoly. Mourali told a parliamentary committee in November 2025 that a new law would digitise sports betting.
Egypt’s gambling rules were written around physical venues. Law 8 of 2022 provides that “gambling games may not be practised in establishments except by non-Egyptians”. No licensing framework exists for online betting.
How to play The Great Banker
However, the scheme has faced ongoing scrutiny and criticism. Clubs can direct the funds towards upgrading their own facilities, and there is no mandated verification for how the grant recipients must deploy the money.
The latest 2025 contribution report indicated that $127 million was awarded, with $53.3 million specifically allocated to sport-related organisations.
Caroline Lamb informed a recent review that the current responsibility of annually processing over 500 ClubGRANTS applications within a short time frame imposed significant constraints.
How to play The Great Banker
In statements, op-eds and media interviews since his appointment, Selig had pounded the table for a federal crypto framework. As the IGA’s Bean alluded to, the Clarity Act would have given the agency a number of new duties and authorities related to the new assets at a time when the commission’s existing workload has been cause for concern. There are typically five sitting CFTC commissioners at any given time, but Selig is currently the lone sitting commissioner with no other nominations submitted.
Selig recently hosted a meeting of the CFTC’s so-called Innovation Advisory Committee, which featured extensive discussion about crypto from leading CEOs. The committee’s charter says members pledge to “provide advice and recommendations” on several topics, including crypto assets and blockchain technology.
In May, Selig wrote in a social media post on X that under Trump’s leadership, the nation became the “crypto capital of the world“. Moving forward, the absence of a law makes any rules or advisories issued by the CFTC or the Securities and Exchange Commission vulnerable to being reversed or challenged in court, according to CoinDesk. As of Thursday evening, Selig had not released a statement on the vote.
