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Dina Titus proposes barring sports event contracts on federal exchanges

Regulation

Nevada representative Dina Titus has proposed the Fair Markets and Sports Integrity Act to bar federally regulated exchanges from listing contracts tied to sports contests and similar outcomes, according to the report. She argues prediction markets avoid obligations applied to licensed gambling operators; the CFTC has opposed state efforts to regulate the platforms.

The proposed bill could restrict federally regulated exchanges from listing sports-related contracts, creating uncertainty for prediction-market operators.

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Regulation

Dina Titus urges House leaders to restore full gambling-loss deduction

US Representative Dina Titus has asked House leadership to restore the full gambling-loss tax deduction in end-of-year legislation, according to the report. The deduction was reduced from 100% to 90%, and her FAIR BET Act passed the House Ways and Means Committee 38-5 in September; it awaits action by House leadership.

A congresswoman from Nevada, whose district covers the Las Vegas Strip, wants Republican leaders in the House to bring back the full gambling-loss deduction as the session's final weeks near. Democratic U.S. Rep. Dina Titus wrote to Speaker Mike Johnson and Majority Leader Steve Scalise, both of Louisiana, urging that FAIR BET language be added to any “must-pass” legislation.

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