Gaming associations urge Congress to bar sports contracts on prediction markets
US gaming associations have urged Congress to prohibit sports and casino-style contracts on prediction markets through amendments to the Digital Market Clarity Act. The signatories argue that the contracts amount to unregulated sports betting and undermine state and tribal oversight; they also say Congress should clarify that sports betting falls outside the CFTC’s remit.
The proposed change could affect prediction-market offerings and the division of oversight between federal and state authorities.