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Dina Titus urges CFTC to reject nationwide sports prediction markets

Regulation

Nevada Congresswoman Dina Titus sent the CFTC a public letter opposing the legalisation of nationwide sports prediction markets ahead of an agency roundtable, the report said. She argued that these markets could bypass state oversight and affect consumer protections and tax revenues. The CFTC is discussing regulatory approaches as its legal dispute over Kalshi election contracts continues on appeal.

Titus’s objections highlight potential conflicts between nationwide prediction markets, state oversight, consumer protections and tax revenues.

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Regulation

Dina Titus urges House leaders to advance gambling-loss deduction bill

Nevada representative Dina Titus has asked House Speaker Mike Johnson and Majority Leader Steve Scalise to advance the FAIR BET Act before Congress adjourns. The bill would restore the full federal deduction for gambling losses, reversing the 90% cap enacted in 2025; Titus said the cap could affect regulated markets and tax revenues. The House Ways and Means Committee approved the measure 38 to 5 in September, but it still needs a full House vote.

A push to restore the full federal gambling-loss deduction is back before House Republican leaders, with Nevada Congresswoman Dina Titus urging action on the FAIR BET Act before the year's adjournment. In a letter to Speaker Mike Johnson and Majority Leader Steve Scalise, she requested that the legislation be included in a major spending measure or another bill that must pass before the session ends.

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