"Nevada Representative Dina Titus has introduced new federal bill in a bid to strengthen oversight of sports-related prediction markets. The proposal reflects growing concern that certain platforms may be operating in regulatory gray areas. In a recent post on X, Rep. Titus expressed concern that some prediction market operators are exploiting loopholes in federal and state law. She argues that these platforms, while structured as financial trading exchanges, can function in ways that closely resemble traditional sportsbooks."
"Rep. Titus expressed concern that some prediction market operators are exploiting loopholes in federal and state law. She argues that these platforms, while structured as financial trading exchanges, can function in ways that closely resemble traditional sportsbooks. "Prediction markets should not be able to circumvent state gaming laws. Consumers deserve transparency, accountability, and protection against such predatory practices," Titus wrote. "That is why I introduced the Fair Markets and Sports Integrity Act to prevent entities from engaging in transactions involving sporting or casino-style event contracts.""
A federal bill aims to strengthen oversight of sports-related prediction markets and close regulatory gaps that let platforms mirror sportsbooks under financial-exchange labels. The proposal would bar companies from offering or facilitating trades tied to sporting events or casino-style outcomes when those contracts essentially replicate state-regulated gambling products. The measure seeks to force transparency and accountability, protect consumers from predatory practices, and prevent platforms from repackaging sports betting as financial trading to evade state gaming laws. The proposal builds on prior gaming-related efforts amid concerns that oversight has lagged market innovation.
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