Cruz plans bill requiring state or tribal approval for prediction market sports contracts
US Senator Ted Cruz plans to introduce legislation after the 3 November midterm elections that would require state or tribal authorisation for prediction markets to offer gambling-related event contracts, including sports. The proposal would shift the approval decision to states and tribes; it remains planned legislation, and the source says it had not appeared on the Congress website.
Prediction market operators could need state or tribal permission to offer sports contracts under the proposed bill.