AGA and IGA urge Congress to address prediction-market gambling risks
The American Gaming Association and Indian Gaming Association warned Congress that prediction markets such as Polymarket and Kalshi threaten state authority, consumer protection and tribal sovereignty. The groups said some contracts resemble sports bets and argued that existing Commodity Futures Trading Commission rules prohibit event contracts tied to gambling or unlawful activity; the report also says the CFTC is facing questions from senators about fraud and insider trading.
The groups’ position could shape scrutiny of prediction markets and the boundary between federally regulated contracts and state gambling rules.