Gaming Groups Warn Congress on Prediction Markets
They said sports event contracts mimic sportsbooks, bypass tribal and state rules and have drained more than $1.2 billion in tax revenue.
They said sports event contracts mimic sportsbooks, bypass tribal and state rules and have drained more than $1.2 billion in tax revenue.
The Game Act would bar targeted online gambling ads for under-18 users and allow fines of up to $100,000 per ad.
The group wants tighter ad rules, citing risks for adolescents and young adults as betting-style platforms spread on phones.
Therapists describe 18-plus access, rapid price swings and aggressive ads as drawing in younger users.
The fight could become the high court’s first test of prediction markets.
The group is building education, research and industry engagement around risks in emerging financial trading markets.
The state is expanding helplines, billboards and recovery tools while regulators say some prediction markets may amount to illegal gambling.
The board says the deal blurs the line between responsible-gaming messaging and unlicensed sports gambling.