Indian Gaming Association plans $3m-$5m lawsuit funding campaign
The Indian Gaming Association said it plans to raise $3m to $5m from tribes to fund a lawsuit against the Commodity Futures Trading Commission over sports prediction markets. The proposed case would allege that the agency is not enforcing rules that prohibit sports betting, while the IGA also backs legislative action. Its board adopted a resolution opposing regulation of event contracts, including sports-related prediction markets.
The planned litigation and legislative campaign could challenge the federal framework for sports prediction markets.