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Dina Titus introduces bill to bar sports and casino-style prediction contracts

Regulation

US Representative Dina Titus introduced the Fair Markets and Sports Integrity Act to bar regulated exchanges from offering contracts tied to sports contests or gambling-like events when they resemble wagers governed by state authorities. Titus said states should oversee these platforms; the bill is before a House committee.

The proposal could affect prediction-market operators offering sports-linked contracts in the US.

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Regulation

Dina Titus presses US tax committee for 100% gambling loss deduction

Reportedly, US Representative Dina Titus is urging the House tax committee to take up her FAIR BET legislation. The proposal would raise the federal deduction for gambling losses from 90% to 100%, but neither it nor a similar Senate bill has reached a floor vote.

US Representative Dina Titus, a Nevada Democrat, is continuing to press the House Ways and Means Committee to advance her FAIR BET Act, which would restore the federal deduction for gambling losses to 100%, according to a report. Neither the FAIR BET Act nor a similar Senate bill has been put to a floor vote more than a year after their introduction.

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