""Too many young people in Utah are getting exposed to addictive sports betting and casino-style gaming contracts that belong under state control, not under federal regulators," Curtis said in announcing the legislation."
""Sports prediction contracts are sports bets - just with a different name," Schiff said. "And yet, these contracts are currently offered in all 50 states in clear violation of state and federal law.""
A bill filed by Utah Senator John Curtis aims to ban prediction markets that mimic sports betting and casino-style games. The Prediction Markets Are Gambling Act would prevent companies like Kalshi and Polymarket from offering such markets. The legislation seeks to protect minors from exposure to addictive gambling and ensure compliance with state laws. Co-sponsored by California Senator Adam Schiff, the bill amends the Commodity Exchange Act, asserting that sports prediction contracts are essentially sports bets and should be regulated under state authority.
Read at Card Player
Unable to calculate read time
Collection
[
|
...
]