"We are particularly troubled that several sports-related futures contracts have been launched nationwide, including in jurisdictions where sports betting has not been legalized," Jeff Miller, an executive vice president for the NFL, wrote in the testimony. "These contracts fall outside the purview of state regulatory authorities and the safeguards they impose upon the industry. Miller warned that the amounts wagered on prediction markets could far exceed those at sportsbooks, creating "substantially greater risks to contest integrity."
"The NFL noted that prediction markets operate in all 50 states, while legal sportsbooks are in only 39 states and the District of Columbia. In each of these state-regulated markets, regulators and state legislators closely monitor betting activity and, with input from professional sports leagues, can determine which bets and wager levels are acceptable," he wrote. "Those guardrails do not exist in prediction markets."
The NFL raised concerns to a House committee about the rapid growth of prediction markets that allow trading on yes/no outcomes, including sports events. Prediction markets operate in all 50 states while legal sportsbooks exist in 39 states and Washington, D.C., creating jurisdictional gaps. Several sports-related futures contracts launched nationwide, including in states without legalized sports betting, and fall outside state regulatory authority and industry safeguards. The league warned that wager amounts on prediction markets could exceed sportsbook volumes and that the absence of state guardrails increases risks to contest integrity amid ongoing legal and regulatory disputes over oversight.
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