AGA estimates prediction markets cost states and tribes $1 billion in tax revenue
The American Gaming Association estimated that prediction markets have cost US states and tribal governments more than $1 billion in tax revenue, according to its latest report. AGA chief executive Bill Miller said federal oversight of the platforms is inadequate, while state authorities and platform operators dispute whether the products fall under state gaming rules or federal jurisdiction.
The estimate and jurisdiction dispute could inform state and tribal tax and oversight decisions on prediction markets.