Exclusive: Gaming industry, unions push for prediction market rules in crypto bill

Exclusive: Gaming industry, unions push for prediction market rules in crypto bill

The gaming industry is banding together with tribes and unions to urge lawmakers to add language barring prediction markets like Kalshi from offering sports wagers to pending cryptocurrency legislation, according to the text of a letter viewed by Semafor. “While our organizations may differ on other issues, including gambling policy, we are united in our concern that prediction markets have fueled the largest expansion of gambling in U.S. histor…

Gaming groups urge Congress to ban prediction markets sports betting in CLARITY Act

Gambling industry groups want the US Senate to step in to clarify that the Commodity Futures Trading Commission does not have the authority to oversee prediction markets.

CoinStats - Gaming Industry Urges Congress to Halt Sports...

US gaming and tribal-related organizations, along with labor groups, are urging lawmakers to tighten federal rules around crypto-linked prediction markets. In a letter reported by Semafor, they ask the Senate to include language in the Digital Asset Market Clarity (CLARITY) Act that would “explicitly prohibit event contracts tied to sports and casino-style gaming.” The groups’ core argument is jurisdictional and policy-driven: they contend that …

US Gaming Groups Urge Congress To Ban Sports Prediction Markets in Crypto Bill

A coalition of US gaming groups, tribal organizations, and labor unions is urging Congress to prohibit sports prediction markets from being offered under federal crypto legislation. The move from the US gaming group escalates a battle that has pitted traditional gambling interests against fast-growing event-contract platforms.  The push comes as lawmakers debate market structure legislation that would establish a comprehensive framework for digi…

US Gaming Sector Wants Clarity Act To Exclude Sports In Decentralized Prediction Markets

Groups representing the gaming sector asked the US Senate to ban sports-related events in decentralized prediction markets. They want to incorporate the restriction in the pending CLARITY Act. The gaming industry in the United States is urging lawmakers to review the conduct of decentralized prediction markets. Members of the sector want the pending Digital Asset Market Clarity Act to include provisions banning sports activities on platforms, su…

Gaming Industry Urges Senate to Ban Sports Prediction Markets in CLARITY Act

AGA and other groups urge the Senate to ban sports prediction markets in the CLARITY Act. Coalition says prediction markets drove the largest US gambling expansion without voter approval. Platforms let users aged 18 bet in states that have not legalized sports betting. More than 50 organizations spanning the gaming industry, tribal nations, labor unions, and state associations sent a letter to the US Senate on June 16, urging lawmakers to includ…