Curtis-Schiff Bill Targets Sports Betting Loopholes
Salt Lake City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Utah Senator John Curtis and California Senator Adam Schiff introduce a bipartisan bill, the Prediction Markets Are Gambling Act, to close loopholes allowing prediction markets to bypass state sports betting bans. The measure aims to block platforms overseen by the Commodity Futures Trading Commission from offering sports outcome contracts or casino games, addressing concerns about state taxes, consumer safeguards, and tribal rights. The proposal seeks to restore the intent of federal law and potentially force prediction markets to focus on non-sports topics or face stricter regulations.
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