By SectorWire desk ·
Representatives Steven Horsford and Mark Amodei introduced legislation to prohibit sports and casino event contracts on federally registered exchanges. The proposal would preserve financial hedging products and affirm state and tribal gaming authority.
The proposal would restrict prediction-market platforms offering sports and casino contracts under federal oversight.
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Ohio’s request puts disputed state and federal authority over sports prediction market operators before the Supreme Court.
The lobbying seeks to influence the regulatory treatment of prediction market products in the USA.
The dispute concerns whether federal commodities regulators or gambling authorities should oversee sports contracts, affecting prediction market oversight.
The dispute concerns whether sports prediction platforms must comply with state gambling laws alongside federal financial supervision.
The case and lawsuit could affect how sports event contracts operate and how Florida’s gaming compact applies to DraftKings’ platform.
The case could determine whether states can apply gambling laws to prediction market operators such as Kalshi and Polymarket.