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Dina Titus proposes barring sports and casino prediction contracts

Regulation

US Representative Dina Titus introduced the Fair Markets and Sports Integrity Act to prohibit prediction-market contracts based on professional or amateur sports outcomes, according to the report. The proposal would classify the activity as gaming and require state licensing and age checks; the report says the bill may face opposition from the financial technology sector.

The proposal could subject prediction-market operators offering sports-related contracts to state licensing and age-verification requirements.

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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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