US gaming groups urge Congress to ban sports prediction contracts
The American Gaming Association, Indian Gaming Association and other industry representatives urged the US Senate to amend the Digital Market Clarity Act to prohibit sports-related prediction market contracts. In a letter, the groups argued that these products bypass state and tribal gambling laws and raised concerns about consumer safeguards and the CFTC’s oversight role.
A proposed federal ban could affect prediction-market offerings and the division of oversight between federal, state and tribal authorities.