- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
Prophet Exchange to Exit New Jersey in May
COO Benzaquen promised that Prophet Exchange will be “back in more states soon”

One of New Jersey’s sportsbook exchanges, Prophet Exchange, is set to cease its operations in the state. According to the announcement, the exchange will officially close on May 28.
For context, Prophet Exchange originally launched in New Jersey in August 2022. Prophet was notably the state’s first provider of exchange betting, a form of betting where fans bet against one another instead of against the house.
To make it operations sustainable Prophet takes a small cut of player’s winnings. This figure is always lower than the cut of traditional sportsbooks, which is a large part of betting exchanges’ appeal.
Prophet’s exit from the New Jersey market means that Sporttrade will remain as the state’s sole sports betting exchange.
Prophet Will Remain an Exchange
As reported by Sports Handle, the company’s founder and chief operating officer, Jake Benzaquen, said that this closure doesn’t mean the end of Prophet. According to him, the shutdown of its Garden State operations is but a temporary setback.
Benzaquen promised that Prophet Exchange will be “back in more states soon.” However, Prophet Exchange did not immediately confirm its plans for the future. However, Benzaquen confirmed that the company plans to continue operating as an exchange.
This might present certain difficulties to Prophet, which is exploring options in other states because the majority of US jurisdictions currently do not allow betting exchanges. However, Prophet remains optimistic that regulatory changes would pave the way to the exchange’s launch in new markets.
In the meantime, competitor Sporttrade recently launched in Colorado, expanding its geographical footprint. This launch allowed players in the Centennial State to try out the company’s exceptional and differentiated sports betting products.
Related Topics:
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at Gambling News is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
More Articles
Casino
September 18, 2025
Times Square Casino Plan Falls Through Due to Broadway Opposition
Casino
September 18, 2025
Tourist in Las Vegas Shot by a Security Guard Armed Without Authorization
Casino
September 18, 2025
Ex-Gregg Township Official Jailed for $533K Gambling Embezzlement
Sports
September 17, 2025
Missouri Is Bracing for Sports Gambling – And Addiction
Casino
September 17, 2025
Melco Plans Private Hospital at Macau’s Studio City
Casino
September 17, 2025
New Jersey Takes Steps Toward Tougher Responsible Gambling Rules
Casino
September 17, 2025
Las Vegas Starts Big Sales Push to Fight Tourism Slump
Lottery
September 17, 2025
$600K Monopoly Winner in NC Gets “Best Birthday Present Ever”
Casino
September 17, 2025
SGLA and SPGA Merge to Create “Clear and Consistent Voice”
Lottery
September 16, 2025
Lucky Ohio Player Wins $2M Royal Riches Prize