New coalition calls for state crackdowns on prediction markets

A new coalition is urging state and tribal authorities to crack down on prediction markets, arguing that these platforms enable illegal sports betting and violate gaming laws. The group is calling for stronger enforcement of existing regulatory frameworks to curb operations of prediction market platforms.

The coalition contends that prediction markets operate beyond permitted gambling boundaries and pose risks to consumers, urging regulators to treat these platforms as illegal gambling venues. They emphasize alignment with state and tribal gaming laws to address alleged violations and protect the public interest.

Gauging the regulatory landscape, the coalition seeks coordinated action across jurisdictions to investigate and potentially shut down prediction market services that they argue circumvent licensure and compliance requirements.
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