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State lawmakers debate responses to sports prediction markets at NCLGS meeting

Regulation

Lawmakers discussed possible state responses to sports prediction markets at the National Council of Legislators from Gaming States’ Summer Meeting in San Diego. Several states have proposed bans or restrictions, while Kentucky, Illinois and North Carolina have passed measures to tax or regulate the contracts; Mick Mulvaney argued that federal action is unlikely to resolve the issue for states.

Operators face differing state approaches, including taxation, regulation and proposed restrictions on sports event contracts.

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Regulation

NCLGS urges states to assert authority over prediction markets

National Council of Legislators from Gaming States president Al Williams called on US lawmakers to address prediction markets, sweepstakes gaming and skill-based slots. The organisation adopted a resolution opposing unlicensed prediction markets and urging member states to review their laws and, where appropriate, assert licensing and regulatory authority over activity within their borders.

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